January 1, 2015

Axiomatization and test

Comment on 'Saving=Investment fallacy'

Blog-Reference

It is a matter of method, which implies testing:

“Reason gives the structure to the system; the data of experience and their mutual relations are to correspond exactly to consequences in the theory. On the possibility alone of such a correspondence rests the value and the justification of the whole system, and especially of its fundamental concepts and basic laws. But for this, these latter would simply be free inventions of the human mind which admit of no a priori justification either through the nature of the human mind or in any other way at all.” (Einstein, 1934, p. 165)

References
Einstein, A. (1934). On the Method of Theoretical Physics. Philosophy of Science, 1(2): 163–169. URL