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Economics is a long way from, say, climate science in terms of its demonstrated ability to make useful predictions. We routinely get advance warning of both sho
by podperson 14y ago
Economics is a long way from, say, climate science in terms of its demonstrated ability to make useful predictions. We routinely get advance warning of both short term weather effects (such as storms) and long term climate effects (such as unusually dry seasons). The effects of these predictions have been measurable and palpable.
Economists tend to struggle even to agree on post-hoc explanations of well-documented past events. E.g. serious economists still argue over the root causes of the Great Depression.
Tarring Economic theory and climate science with the same "Scientism" brush is unfair if not downright dishonest.
And even Krugman's economic predictions are testable. The linked article was an example of him opining outside his area of expertise.