The Forum > General Discussion > Is Economic Science Possible?
Is Economic Science Possible?
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To give an example of my 3rd proposition, say we want to grow wheat in a ploughed paddock. Our two factors of production are seed and superphosphate. Adding super will *increase* production up to a point. But thereafter any further addition of super causes a *reduction* in output. Same with seed. Therefore holding all other factors constant, we *cannot indefinitely increase output by indefinitely increasing one factor.* That’s the proposition.
Spare me the semantic quibbles about “optimum” or “constraints”, and personal argumentation based on attributions of my supposed bad faith. Go ahead and give a real-world example of where we can *indefinitely increase production by increasing one factor of production while holding all the other factors constant *.
Or kindly admit that the three propositions are universally true; and let me proceed to demonstrate how we can make logical deductions about axioms of human action that provide scientific explanation and rational proofs and of economic phenomena.