Tag: abstractions

• Galileo and Economics

  Or ‘Why we can’t blame Galileo for the latest financial crisis!’ 🙂 Modern science can be roughly said to begin with Galileo Galilei. One of the commonly used methods in science is sometimes referred to as the Galilean Style. This style refers to, among other things, the idealizations and abstractions that scientists use in modeling […]

  rrameez

  December 12, 2012

  History of Science, Modeling, Science

  abstractions, Economics, efficient market hypothesis, Galilean Style, Galileo, idealizations, rational choice theory, rational expectations