Per Bylund Profile picture
Sep 22 13 tweets 3 min read Twitter logo Read on Twitter
People's belief in data as a source of knowledge needs to be addressed. It is rarely more than faith backed up by scientism and fundamental misunderstandings of science/the scientific process. There are no data that can "speak" for themselves and data are rarely "objective."
The social sciences study a complex process emergent from actions based on actors' interpretations, understandings, and valuations. Much of the social world consists of unobservables, but even "objective" data that actors take into account are interpreted and thus subjective.
The natural sciences are generally much simpler than the social ditto because they study the world without human agency. This makes for a "cleaner" world that can (typically) be studied using experiments, tests of hypotheses, etc. and that produce largely reproducible results.
The correlations (potential causations) observed in the natural sciences are comparatively simple, but "data" are always collected and never complete; no sample is truly random, measures are not exact or without bias, effects cannot be determined without risk of confounding, etc.
Even if a sample is as random as can be, all known measures have been taken to avoid confounding, the instruments are as objective as can be, etc. they may still mislead us because, e.g., we collected the wrong data points the wrong way at the wrong time using the wrong means.
Data are never ever a guarantee of objectivity. The high-school version of science teaches a simplification that is deceiving because it causes a faith in data that is unfounded. It is not the data themselves that provide knowledge but their repeated tests and interpretations.
Science does not progress by collection of data that are then used to test a hypothesis. Even if the study is peer reviewed and the methods used vetted by others with deep statistical and field expertise. Empirical science progresses through repetitions with reproducible results.
Data do not generate knowledge. Repeated (and independent) collections of data (that thereby vary) done at different times in different places, and perhaps with different assumptions, intended to test similar hypotheses are expected to home in on the true nature of reality.
Such repeated experiments, perhaps done thousands of times with reproducible results, are still based on assumptions (such as the existence of constants and/or constant relationships), which are not themselves beyond reproach. They may seem obvious at present, but time will tell.
It's unfortunate that people have a puerile view of data as objectively informing us about reality; it creates an overreliance (faith) in singular findings (that might be completely wrong) and an unfounded skepticism of findings generated using other methods than the scientific.
I find much of the knee-jerk rejections of praxeology (but not, strangely, of its methodological siblings math, logic, geometry) based in this type of faith in objective data. These critics pretend to be skeptical, but really only voice a pseudo-religious belief--scientism.
Whereas scientists specialized in their field of study can productively adopt and apply an already existing method of study, in reality no methodology is better than the philosophical argument for it--and philosophy ultimately hinges on what is reasonable, not proven truth.
For most people, a productive first step toward developing a critical mindset is not to dismiss or reject any type of scholarship or even scientific results, but to realize that data are not the objective arbiters of truth that you learned in high school. They simply are not.

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More from @PerBylund

Sep 2
There is deep confusion about money in the bitcoin camp. On the one hand, evangelists are right that a money is better if it is not controlled by a singular entity (with interests of its own) and exists in limited quantity or is difficult to create (resists arbitrary inflation).
OTOH, they often misunderstand the definition of money--the commonly used medium of exchange--and its implications, which is clear from how they refer to bitcoin as a "decentralized" money. That claim doesn't make sense. What they mean is decentralized control over the currency.
Money, and what makes something money, is its adoption as medium of exchange. It's necessarily a bottom-up process; you cannot conceivably force people to adopt a medium of exchange. It's ultimately based on people's choice to use it. Hyperinflation shows even governments cannot.
Read 17 tweets
Jul 18
Since I got my first faculty position in 2012, students' knowledge has plummeted (from a not-great level). Few nowadays have heard of Robinson Crusoe, know why there was a wall in Berlin, or can read or write well. This is not the students' failure. It's a failure of instruction.
But students also have a fair amount of false knowledge: they have learned (been taught) things that simply aren't true. This is strikingly obvious in my field #economics, but also in #history and other fields of study. This isn't a failure of instruction; it's outright sabotage.
To teach the students, I've no choice but to spend class time to help them 1) fill in the gaps in their knowledge and 2) reeducate them to clear out false beliefs. This necessarily lowers the level of their college education. They will graduate knowing less than previous cohorts.
Read 9 tweets
Jun 11
The nonsense of MMT
This thread intends to be a continuously expanding selection of claims that proponents of #MMT have made in supposed support of their dogma based in economic illiteracy. Paraphrased and quoted. twitter.com/i/web/status/1…
Money supply doesn't affect prices, because prices are in money but set by supply and demand. #nonsense
Entrepreneurs cannot make profits unless the government first spends the money they earn into existence. Thus, government spending is necessary for there to be an economy. #nonsense
Read 14 tweets
May 21
Funny how critics, always from the 'left', dismiss Austrian economics for supposedly being political or even "not economics." If you are to criticize (or dismiss) something you should at least be aware of the basics. Both of the aforementioned "points" are very wide of the mark.
(1) to be political (rather than positive) the theory must leave room for value judgments. Austrian economics doesn't: it's purely deductive logic with the theory derived from the action axiom. This means you have two options for critique: an axiomatic error or problematic logic.
(2) stating that Austrian economics is "not economics" is embarrassingly ignorant: not only was it one of the original marginalist schools of thought, it was also one of the main streams until the unfortunate formalization/mathematization of the economics discipline.
Read 4 tweets
May 13
Beltway libertarians showed their true colors during the pandemic, @jeffreyatucker writes. (As I like to say, they're not anti-state--they're merely statists with a fetish for "small" government.) theepochtimes.com/why-elite-libe…
As libertarians supported (even called for) dictatorial government power to deal with the spread of a virus, I pointed out that freedom does work, that it's an error to believe in centralization as a means (in retrospect, I didn't push nearly hard enough): mises.org/wire/benefits-…
To save face/rationalize their cowardly betrayal of the liberty principle, libertarians started producing pseudo-arguments such as how shedding a virus is supposedly aggression, a violation of the non-aggression principle (!). I commented on this nonsense:
Read 4 tweets
May 11
Apparently one cannot ask reasonable questions in response to a nonsense tv "star" asking a question. Take a look at the responses... Image
Like this guy, who immediately blocked me. Not sure why he wasted all those letters. Image
Another brave keyboard warrior. Image
Read 5 tweets

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