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It is sensationalist, but there is a small kernel of truth. Economists have major physics envy and want desperately to be a full mathematically based science, b
by 7thaccount 2y ago
It is sensationalist, but there is a small kernel of truth. Economists have major physics envy and want desperately to be a full mathematically based science, but it's more of a social science (as in not hard science). Doing regression models on the economy is obviously somewhat flawed. There is an experimental branch of economics that does repeatable experiments though, so some practicioners are probably pretty close.
There are a lot of things economists almost universally agree on (e.g. price caps bad), but there are big differences in schools of thought. Politicians can choose a la carte and can find an economist to agree with them on practically any policy.
- feyman_r 2y agoAs far as I understand, economics is a part of Social Science, not just resembling it. I don't think it can contend with the other two branches [1] per se - Formal and Natural, whose basis is different. [1] https://en.wikipedia.org/wiki/Branches_of_science https://en.wikipedia.org/wiki/Branches_of_science
- 77pt77 2y ago> Economists have major physics envy All the rigor of pure mathematics, none of the predictive power of Physics.
- ahazred8ta 2y agoThe sciences, ranked: https://xkcd.com/435/#math-purity https://xkcd.com/435/#math-purity