Popper's definition of science says that, to be
scientific, a theory must be:
When one listens to the news about the
stock market, one finds that some people can always
explain why the market moved up or down during the
previous day. If the market moved up, there is always
some bit of good news that can be cited as the cause,
while when the market declines, there is always some bad
news that can be cited as the cause. The ability of some
to explain all moves in the stock market:
shows that some people have an
impressive understanding of how the market works.
is an example of a nonscientific
exists only because the government
properly regulates the market.
illustrates a normative view of the