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A good economic theory should be built on sound economic principles tested on many free markets, and proven to be valid. However, empirical facts have been alleged to indicate that the principles of economics hold only under very limited conditions that are rarely met in real life, and there is no scientific testing methodology available to ...
Bostrom claims his argument goes beyond the classical ancient "skeptical hypothesis", claiming that "... we have interesting empirical reasons to believe that a certain disjunctive claim about the world is true", the third of the three disjunctive propositions being that humans are almost certainly living in a simulation.
Without a price mechanism, Mises argues, socialism lacks the means to relate consumer satisfaction to economic activity. The incentive function of prices allows diffuse interests, like the interests of every household in cheap, high-quality shoes to compete, among buyers, with the concentrated interests of the cobblers in expensive, poor ...
Over the past five years, economists have been waging a fierce battle over if and when fiscal stimulus is an appropriate tool to fight the deleterious effects of the ongoing crisis. On one side ...
In this video, Jack Schwager argues that huge single-day market dives couldn't happen if the efficient market hypothesis were true. But they do happen, and investors need to be prepared. Making ...
A simulation game is "a game that contains a mixture of skill, chance, and strategy to simulate an aspect of reality, such as a stock exchange".Similarly, Finnish author Virpi Ruohomäki states that "a simulation game combines the features of a game (competition, cooperation, rules, participants, roles) with those of a simulation (incorporation of critical features of reality).
This week, the Wall Street Journal released an alarming report on how the Biden administration may have suppressed dissenting views supporting the lab theory on the origin of the COVID-19 virus ...
Simulation theory or Simulation Theory may refer to: Simulation theory of empathy , a theory in philosophy of mind about how people read others' actions and intentions Simulation hypothesis , a theory that all of perceived reality is an artificial simulation