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Right, but Newtonian physics can fairly accurately predict gross body mechanics whereas economics can't even predict the large-scale wage or price level. They'l
by bandrami 3y ago
Right, but Newtonian physics can fairly accurately predict gross body mechanics whereas economics can't even predict the large-scale wage or price level. They'll simultaneously model the income effect and the replacement effect of taxes and then shrug and say "of course we can't say in advance which one will dominate".