Physical
EyeBuyDirect.com Homepage
Media gurus and Academia are new church schools and church priests. The religion of Atheism has done tons of sneaky things. One of the most tricky is classifying many subjects as sciences formerly classified as Arts. In the good old days, the point of differentiation was that arts were subjective expressions and science was the objective analysis. The result is that both sciences and arts got filled with bullshit. Subjective blind faith and subjective views became integral foundations of sciences, and impossible objective and mathematical analysis of social issues filled up the so-called social sciences or arts with crap. Any subject that deals with subjective behaviors and preferences of individuals is an art, while the objective analysis of nature and the technology based on it is science.
Besides physical sciences, the worst victim of this mess has been Economics. In Economics, all value is subjective. One great expression of this came out with the launch of eBay. Its slogan was one man’s junk is another one’s treasure. The model was so realistic and appealing that eBay quickly became the number one online marketplace. Soon, so many were selling their junk on eBay at reasonable prices. Some of that junk was even being sold for millions. Tons of window shoppers would be walking by looking at an item in the shop window, but few would be pulled inside the shop by that item, turning some into buyers. These buyers are the people Seller has been counting on. The same is true for advertising. Many would investigate the products advertised, and some would end up buying. They are the ones who bring value to the business.
So, the people who did not buy the item were not impressed by it, did not need it, or could not afford it. One who bought it valued it more than they paid for it. This is a win-win situation. People who did not buy saved money they valued more than the item. Buyers get the item they value more than its price, and businesses make some profit that will take care of the owner, workers, and their families. The point is that the capital and services markets are run by subjective value placed on items or services by buyers and non-buyers. There is no way in hell to analyze or predict this objectively. It depends on the subjective value and risk taken by producers, distributors, retailers, inventors, creators, and innovators.
On the supply side, the suppliers take risks based on their calculated risk and intuition, and on the demand side, buyers see the subjective value they place on the items and services. This also determines the prices. Only stupid media gurus and ideological economists believe that producers, distributors, and retailers set prices. The fact observed every day is that even if you put the price as one penny and no one wants to buy it, you earn zero. On the other hand, even if you set the price in millions, if there are buyers who subjectively value it that much, you will make millions. This is the number one reason why Socialism never worked. In Socialism, where all means of production are owned by one monopoly, the government, there is no way to get the price signals. In capitalist markets, all producers, distributors, and retailers analyze the price signals in the market and make decisions based on those signals.
People old enough have observed this countless times—TVs, Computers, Cell Phones, Radios, VR, and Digital Cameras; every single one was crazy expensive when it first hit the market. However, as soon as the entrepreneurs, innovators, creators, producers, distributors, and retailers realized there was a market, the market was flooded with various brands and models. The only things slowing down the expansion were patents and regulations created by the governments. Rapidly, competition and innovation pulled down the prices, and something that only a few could afford became a household item.
This is not the whole story. At the same time, horse carriages, Blockbusters, VCRs, Vinyl records, Tape recorders, Rotary telephones, and Horses and bulls pulling the plows became stories of the past. It is simply because some did not adapt to the change or were not being sufficiently innovative. Every time, the world was going to end because new things would have killed so many jobs and because it was too destructive. On the contrary, every time wages and living standards were raised, instead of being destroyed, the world became better, and lives became more manageable and comfortable. All this uncertainty means that risk-taking entrepreneurs, researchers, developers, inventors, innovators, and creators make tons of money. At the same time, people who play safer by just getting some degree and learning some skills do not do as well but still end up better.
This also means that social interactions are highly subjective and impossible to calculate with Math and its formulas. Risk takers may take some calculated risks, and some may succeed, but no one can devise a formula that may even remotely give a definitive answer, like 2+2=4. This is simply impossible. This is the fundamental difference between Social and Physical Sciences. Social Sciences rely on logic and intuition, while physical sciences depend on logic and Math. You cannot get the correct answers in physical sciences with logic and intuition, and you cannot get the correct answers in social sciences with logic and math. It is like trying to cut with a hammer and push the nail with a knife. Not the right tools.
So, true Economics is not done with Math. It is done with logic and praxeology, the science or art of human action. You cannot challenge and dispute empiricism and universal truths with ridiculously assumptive formulas because here, you are not making definitive and constant physical measurements; you are dealing with highly unpredictable and variable human actions. Hence, formal education is increasingly becoming a waste of time, money, and resources because universities are filled with ideologues, not truth finders. A degree is just now a signal for your commitment. Most employers know they must teach you the fundamental skills after hiring you.
