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"They believe that economics cannot be mathematically or statistically modeled" It can be modeled, the models just won't be predictive when applied to reality
by danenania 15y ago
"They believe that economics cannot be mathematically or statistically modeled"
It can be modeled, the models just won't be predictive when applied to reality because it's impossible to control for variables in such a complex system. Mathematics and statistics can be used effectively in economic analysis, but the majority of what's produced (and that our government uses for guidance) succumbs to correlation/causation fallacies.
Economics is not science. It's theory. Economic theories are not testable. Trying to give one's work the impression of credibility through misapplied scientific language and methods is called pseudoscience, and its purpose is to mislead.