27 sats \ 0 replies \ @0xIlmari 16 Apr \ on: What Would Carl Menger Think Of Bitcoin? libertarian
He wasn't wrong in that economics is not unlike a living organism and therefore difficult to describe. But concluding from that that mathematics as a tool should be discarded is a mistake. He was just born too early and maybe didn't anticipate the tools that were to be invented in the future, such as:
- Chaos theory
- Modern econometrics and financial engineering
- Entirely new branches of mathematics (like stochastic processes) to describe and solve some of the problems
- Computers to allow assist in solving and simulating