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> Go ahead poke at Milton Friedman and watch them get really hot under the collar. Who is them? Do you think economics hasn't made any progress sice the 1970s
by taffer 8y ago
> Go ahead poke at Milton Friedman and watch them get really hot under the collar.
Who is them? Do you think economics hasn't made any progress sice the 1970s and everyone is a paleomonetarist?
- blunte 8y agoIt is exceptionally difficult to prove economic theories because experiments cannot be repeated. The variables are always changing, and there is far from complete control over them.
- taffer 8y agoMicroeconomists and behavioural economists do indeed conduct repeatable experiments. This is more difficult for macroeconomists, of course, but the same is true for many sciences, such as theoretical physics, climate science or much of biology.
- Gibbon1 8y agoOh I think progress has been made, retrograde progress. Economists as less competent now than they were back then.