Thomas Sargent’s weird methodology14 August, 2012 at 13:24 | Posted in Economics, Theory of Science & Methodology | 2 Comments
In Arjo Klamer’s The New Classical Macroeconomics (1984, p 79) Nobel laureate Thomas Sargent answers a couple of Klamer’s questions in a rather surprising way:
It is true that these assumptions are unrealistic.
Do you feel comfortable with them?
Yes, about certain matters. I’m aware of all the problems with them. There are philosophical contradictions about using this methodoology. Deep down I don’t believe in them, but I don’t have a better method of understanding what’s going on out there.
But if the best is not good enough? Wittgenstein’s dictum in Tractatus Logico-Philosophicus comes to mind:
Wovon man nicht sprechen kann, darüber muss man schweigen.