Econometrics alchemy or science

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  • Publicado : 19 de noviembre de 2010
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First of all, I want to say that the level of the text is very high, and it was very difficult for me to understand something. Nevertheless, I will write myimpressions.

After reading this text, my opinion about this topic is that econometrics has no relation with the alchemy or the sciences.
As I have understood, alchemy isreferred to the investigation with rocks and stones, and has a mystic component that I don’t understand very well. I think that alchemy is much more related to the sciencethan econometrics, because it works with stones and its chemical components.

Moreover, I think that the alchemy is the precursor of the science. Until the fifteenthcentury, the alchemy was a very important matter that many philosophers and famous people from the age practised. From the fifteenth century over, the alchemy loses fans andthe science borns as a contraposition to the authority.

Science in last five centuries has evolved so much, and can become a dangerous weapon against the humanbeing. As the text mentions, the science is very advanced and has caused many disasters as nuclear reactions, but the risk of the science holds in the human, and he is theonly guilty for the things that happen.

In relation to the econometrics, the only thing with which I can find some relation is the science. Econometrics is a sciencethat analyzes how to know future predictions using some data, and the statistics plays an important role on it. As we can read, this is a science that investigateseconomic reactions that companies can have in the future, and predicts useful things for the economists, and that is much more related to the science than to the alchemy.
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