Nature of Competition: The Nature of Scientific Inquiry
Now we arrive at the final yet most critical question, “How.” The reasons for such criticality are that we stay in economics and that the first assumption therein is ceteris paribus . In short, we play the game of economy , or utility per hour, with all 5 W’s given. Why science. One of the buzz words in the US has been STEM over the recent decades: science, technologies, engineering and mathematics. The essence of STEM is needless to say the “science.” Science is the foundation of both technologies and engineering, while mathematics is used for the sole purpose of calculation expediency. What we need in the practice is T and E based on S. All through, M is used for the sake of convenience. Apparently, science is never of convenience but it is for convenience: scientific theories are ultimately to apply for more and better conveniences in life. We when exogenous to macroeconomics never...