Re: Quantifying the unquantifiable?

[Fred Foldvary]

"Roger J. Forsgren" <[EMAIL PROTECTED]> wrote:

>  “Here's a problem I have with economics, and also with engineering, to

tell the truth: it's this idea that if we can't quantify a thing,

then it doesn't exist.<

 

Ask him about the Heisenberg uncertainty principle, and Goedel in mathematics.

 

> Of course in engineering it's a lot easier to attach quantities to things,

 

plus or minus

 

> since we deal in physical entities.

 

They only appear to be so.

 

> I guess it comes down to this: what's it worth to have a huge

national goal, like going to Mars?

 

The worth is subjective.

 

>they can't

quantify the ‘inspiration factor’ for lack of a better word.”<

 

How do you know?

 

> My question is, as someone who makes economic analysis their profession, how do you respond to criticisms like the above, and explain it to laypeople?<

 

If they make assertions, ask them how they know.

 

Fred Foldvary