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>> Another difficulty is that in many cases (macroeconomics for instance) we cannot do experiments to test theories. This makes it much harder to learn from the
by TuringNYC 8y ago
>> Another difficulty is that in many cases (macroeconomics for instance) we cannot do experiments to test theories. This makes it much harder to learn from the data.
I assumed another reason Economics is so hard is because cycles are so long that there are not many to test theories with, especially once you consider unique contexts around specific cycles. Would appreciate if you could opine on this aspect of difficulty?
Also, I'm always amused that after so many years there is still such a two sided dogma on Keynesian vs non Keynesian economics - is one side being difficult or is there really room for debate?