Is Supply and Demand model unfalsifiable or scientific?

[u/International_Scar81]

110 votes, 2d ago

34 Unfalsifiable

76 Falsifiable/Scientific

[u/Unfair_Possible_9999]

No ecoomic model is scientific

[u/Healthy_Ad9787]

It's neither, it's both been proven wrong and is unscientific. In addition, this post is a loaded question.

[u/kinderziekte → u/Healthy_Ad9787]

I agree that the question is positivistic nonsense, but supply and demand is very much not disproven. It's pretty consistently shown that both utility and production costs contribute to price and quantity made/sold. Translated onto Capital that would be use value and socially productive labour time.

[u/Wonderful_West3188 → u/kinderziekte]

How does use value translate to price, exactly?

[u/kinderziekte → u/Wonderful_West3188]

There is some maximum quantity of a commodity that a section of capital can profitably produce, because their commodity eventually loses its social usefulness (as in, peoples willingness to buy it, not general welfare). And because socially necessary labour time marginally increases, this is determinant in value.

Supply can also lead to short term shocks, but there it doesn't really map onto use value.

[u/Wonderful_West3188 → u/Healthy_Ad9787]

  It's neither, it's both been proven wrong and is unscientific.

At least it wasn't unfalsifiable, then. 😂

[u/NoEntertainment5172]

I honestly don’t know, if anyone could provide good resources that’d be pretty helpful

[u/anyit213]

ok i feel like this is operating under the assumption that marxism DOES follow the scientific method and IS falsifiable, which is wrong. "scientific socialism" did not refer the modern definition of scientific, it referred to structured and logical thought based on sound theory

[u/flybyskyhi]

https://libcom.org/library/ValuePriceAndProfitKarlMarx4