Slate Money | Money Talks: Philosophy of The Budget
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The Paradox of Prediction
This chapter explores the complexities in interpreting economic conditions and the philosophical implications of language used to describe facts. Using the works of Nelson Goodman and David Hume, it delves into the challenges of induction and the issues faced when making predictions based on past observations. The discussion includes thought experiments like 'grue' that illustrate the paradox of conflicting predictions, revealing how temporal changes affect the properties we assign to economic indicators.
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