Robin Neill asks:
>
> What, in the History of Economics, corresponds to proof in an
>empirical social science?
>
> The simple question remains.
The question is not so simple. I would like to turn the question around.
What, in empirical social science, constitutes a proof?
Consider econometrics. By the end of the nineteenth century,
statistics became identified with inferring conclusions from historical
data; in the twentieth century, inferential statistics became widely used
and soon institutionalized as the single method of inference from data to
hypothesis. With the rise of econometrics, economists became confident that
the standards of scientific demonstration had now been objectively and
universally defined. In econometrics, experiment is comparatively rare and
the standard statistical tool is regression analysis, which is often
applied without extensive rationalization. For example, the interpretation
of probability is hardly ever mentioned in econometrics and, if it is
discussed at all, the relative frequency theory is favored by alluding to
Fisherian or Neyman-Pearson statistical theory, which is based on the
notion of repeated sampling or experimentation. Furthermore, with respect
to the error term justification, the presence of disturbances is commonly
rationalized by some mixture of random sampling from a population and an
epistemic or ontic interpretation of the influence of omitted variables,
without an analysis of the implications of these different renditions.
This is only the start of the trouble.
--Esther-Mirjam Sent
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