Discussion on Timmer, Stern, Tims and Sankar
In some few areas of study--particle physics, for example--it has proved fruitful for scientists to adopt the stance that the mapping from concepts to reality should be exact and complete. A "theory" is seen as a detailed blueprint of phenomena. Any lack of correspondence between concept and data is an anomaly, warranting serious research. At the other end of the spectrum, in engineering, meteorology, and most social sciences, the conceptual system of a science is but a simplified model or even just a crude sketch. Such formulations capture some of the features of the world and not others; they function primarily as heuristic and didactic devices to aid specific investigations of a statistical or case-study sort. Of course much variety is possible in the adequacy even of crude models. When concepts are stylized and inaccurate, the ability to explain/predict/control real events requires a large component of nonconceptualized "tacit" knowledge, as Polanyi has argued. While we cannot fully formulate and write down what we know by means of such "skills" or "insights," such knowledge can be reliable and perfectable; in fact, it comprises much of what we know about the world. The distinction between science and craft is thus a matter
Politics, Economics, and World Oil
This article points out that petroleum production costs outside North America have been declining, not rising, and that scarcity is the pressure of demand on supply. The article indicates our government has surrendered to the Arab oil threats, and that the threats can be broken. It recommends the sound policy outside the U.S. is do nothing and say nothing, while inside the U.S. reducing dependence on Arab oil will weaken the Arab hand.
Organization for European Economic Cooperation
Contrary to the first two annual reports of OEEC which had concentrated on an analysis of national programs and common future policy both within the structure of the organization and beyond the end of the program, the third report of OEEC did not draw to any large extent upon individual national programs for the future, nor attempt to describe in detail future problems and action. The report presented an account of the achievements of the western European economy since the inception of the recovery program and of the progress made in stimulating economic cooperation. The problems of the immediate future were discussed in qualitative terms.