4 ms·
My point is the definition of science gets misconstrued. The general populous assumes that something that is scientific is a "truth". We often say "Big Bang The
by mbesto 13y ago
My point is the definition of science gets misconstrued. The general populous assumes that something that is scientific is a "truth". We often say "Big Bang Theory" not the "Big Bang Truth". In economics the line between truth and theory gets massively blurred (for reasons I'm not going to begin debating here).
So when the Fed decides to drop the interest rates or a Harvard economics professor writes a report on how X will cause Y, we consider these to be absolutes. Meaning, if for every time X happens, there is a reactionary Y that needs to happen to keep growth consistent. We just believe because they've created an economy theory to support it, that is must be true.