21 sats \ 1 reply \ @ratiotile 24 Mar \ parent \ on: Debate: History is only useful to the extent that it can predict the future history
If subjective utility is the fundamental insight of economics, doesn't that necessarily imply that the value of economics itself is subjective? In which case, we can't ever know if anything we "discover" in economics is of inherent value.
Seems to me that if subjective utility is the fundamental insight of economics then we can't know if anything in economics is non-subjectively useful? In which case, why study it?
Because we're human beings and it helps us understand things we want to understand. Most people don't study economics, btw, because they don't value it enough to do so.
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