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The problem is that economists love to ascribe meaning and make confident statements about causality in order to promote personal ideology rather than let the m
by CuriouslyC 2y ago
The problem is that economists love to ascribe meaning and make confident statements about causality in order to promote personal ideology rather than let the models speak for themselves. These models predict behavior within a narrow range of conditions, but that doesn't tell you anything about the underlying systems. You can model any function over a restricted domain using polynomials, but that doesn't mean that polynomial function is the ground truth of the universe.