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The difference being historians have facts to go by, and economists have dreams.
by fabjan 16y ago
The difference being historians have facts to go by, and economists have dreams.
- med555 16y agoWait, what? Maybe the Austrian School goes by theory if that, but every other school of economics goes by facts -- including the Chicago School, Monetarists, Keynesians, New Classical, etc. Economists' whole basis for their arguments is through empirical data and mathematical facts. Saying economists just relies on dreams is absolutely absurd and shows complete ignorance of the field.
- robak 16y agoOh really? What about latest Bernanke dream that you can solve problem of too much debt by getting more into debt? Isn't he dreaming?
- achompas 16y agoImplying economists use anything but data in developing macroeconomic forecasts is just absurd. Give it a rest.
- mattdeboard 16y agoI think you meant that bankers have dreams. They are the ones who invented the CDOs and other financial abstractions.