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Review of Mark Buchanan’s Book, Forecast

Victor Aguilar

posted on 28 November 2013

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Mark Buchanan demands that “a science of markets and economics should not seek a universal theory, but rather an assortment of related models and theories attuned to specific phenomena.”  Towards this end, it is common for economics journals to ban the axiomatic method.  For instance, the Journal of Philosophical Economics declares in their mission statement, “This journal eschews monolithic perspectives and seeks innovative work that is intellectually pluralist.”  I contend with this view and support my conclusions with references to famous axiomatic systems, such as the primitive equations that form the axiomatic basis for numerical weather prediction as developed by Lewis Fry Richardson.

 

Note that I offered Mark Buchanan the opportunity to rebut this review and he declined.

Discussion

1000 downloads. Yay me!

 

I wait for Mark Buchanan to reply.