Sunday, April 17, 2016
Which way of knowing is MOST important in economics? //is this the same for all human sciences?
Language, Sense Perception, Reason, Emotion, Imagination, Memory, Intuition, Faith are the ways of knowing. I believe the most important way of knowing is reason. All other ways of knowing are subjective, and depend on the person's chapter which shapes his or her imagination, perception, faith, etc. But reason is one of the few ways of knowing where the person has to follow a logical process of thinking related to the subject and derive a conclusion which becomes the answer to the problem (meaning its not entirely dependent on the personality or preferencesof theperson). Economics is the study that involves looking closely at how small business (microeconomics), or even how a country as a whole (macro economics) deals financially related directly to the relation of supply and demand. Therefore, an analytical logic is needed for practicing economics, making reason the most important way of knowing for economics. Even looking at other areas of human sciences (such as phycology, law, education, etc.) reason seems to be the most important element. This is because other areas of human sciences as well as economies require logical conclusions to be enable us to reflect and even predict situations in the different areas, so reason is qualified to be the most important way of knowing for all types human sciences.
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I agree a lot with your reflection as a whole. I agree that when it comes to economics, more logical ways of knowing should be used. Economics uses a lot of quantitative data, so ways of knowing that involve opinion and are subjective should be avoided. As a result, reason is a very important way of knowing because it allows people to analyze the data efficiently. However, intuition should also be used in economics. Intuition can help people to arrive at valid conclusions. Intuition and reason should be used together to understand economics. Both pave the way for analytical logic, which (as you mentioned) is essential for the study of economics.
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