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Economics is a mathematical science that is tortured into a practical policy regime. Economists say that misapplications aren't their fault, and policy makers
by goialoq 9y ago
Economics is a mathematical science that is tortured into a practical policy regime. Economists say that misapplications aren't their fault, and policy makers say that they are just applying economics. The problem isn't with economics, per se, it's that economics is given a privileged spot in the curriculum over, say, "socioeconomics"
- jimmytidey 9y agoThis may be the view of some economists, but certainly not all of them. Many notable economists promote the view that economics is overly mathematical and ought to do more to reflect real world behaviour. Ostrom's Law captures this beautifully: "A resource arrangement that works in practice can work in theory"