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David Baker's avatar

I love it. But when you originally took issue with Smiling Dave's characterization of the pickle he'd be in if certain things happened that forced him to question Austrian Economics, you specifically zeroed in on the "my understanding" part. Would Smiling Dave have to revise his understanding of the theory, or abandon it when confronted with evidence that it's wrong? I thought the essay that flowed from that would be about or at least touch upon the distinction between theories and the realities they attempt to describe. But you answered his question of "what happened" with an account of how theories of physics have been shown to be wrong but have not been abandoned due to their practical utility, as opposed to their failure in providing correct and complete descriptions of reality. Hmm. Now that I write that, maybe that actually does touch upon what I thought it would.

So you actually seem to be agreeing with Smiling Dave, then, with the caveat that we ought not think about our theories and what they describe interchangeably.

And if the theories are wrong or incomplete (is there a difference?) it follows that we live in a magical world? I would need more convincing to agree. It seems that although we don't have a theory that provides a satisfactory model, we can't foreclose on the possibility of one existing. Even if we currently see no avenue to discovering it, I don't think we have to despair and conclude the universe has a mind of its own or angels are pushing planets around or it's turtles all the way down or anything like that.

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