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"Modern mainstream economics is sure very rigorous — but if it’s rigorously wrong, who cares? Instead of making formal logical argumentation based on deductive

• Barrin92 6y ago
  I'm not sure what that critique has to do with the original question about the distinction between science and pseudo-science, but I'll respond anyway. The purpose of science is the generation of knowledge, it's to have a formal understanding of a system and essentially a language and methodologies to make inquiries. Economics as a science does solve real world problems, but it's not the dominant purpose of a science as such. It's the task of problem solvers to take scientific results and then turn those say, into actionable policies. Scientific work does not exist for the purpose of solving 'real problems' in the sense of being subjected to that goal. Scientists are not engineers. When Computer Scientists talk about Big-O complexity they often do so in a way that's not really applicable to real-world software development, but that isn't their job. That said economic theory actually does very much factor sucessfully into decision making. Be that macro-economic policy, central banking, the design of markets and incentives, and so on.