Yeah physics is also not a real science. Newton just made a lot of laws up and everyone decided to go with it (and could even launch satelites with it!), and it has been proven he was wrong in certain scenarios (relativity in speeds near light). /s
The economy is complicated, people create models to try and describe it, they aren’t perfect and don’t work for all cases. That doesn’t make it a fake science.
If it is studied with the same rigor that other (social) sciences are, I see no reason to deny it. (And i think it is)
I think economists should have to submit the PhD thesis in between two columns of real scientists and everytime they say something stupid, they get hit with a cattleprod. Like the Klingon right of ascension.
William Nordhause famously won the nobel prize for saying we can protect the economy from climate change by moving everything you do indoors to air conditioned space for something like 5% of GDP. You know, move agriculture, fisheries, the living biosphere etc…
4°C only costs 2.1% of GDP and 8°C only 8.5% of GDP. It’s outrageous fraud completely ungrounded in reality.
There are those of us who studied economics who aren’t brainwashed by Friedman and the like. But the US has proven for decades that it would prefer greed and individualism to influence policy rather than actual economic theory.
Not a real science. It’s more of a religion.
Yeah physics is also not a real science. Newton just made a lot of laws up and everyone decided to go with it (and could even launch satelites with it!), and it has been proven he was wrong in certain scenarios (relativity in speeds near light). /s
The economy is complicated, people create models to try and describe it, they aren’t perfect and don’t work for all cases. That doesn’t make it a fake science.
If it is studied with the same rigor that other (social) sciences are, I see no reason to deny it. (And i think it is)
I think economists should have to submit the PhD thesis in between two columns of real scientists and everytime they say something stupid, they get hit with a cattleprod. Like the Klingon right of ascension.
William Nordhause famously won the nobel prize for saying we can protect the economy from climate change by moving everything you do indoors to air conditioned space for something like 5% of GDP. You know, move agriculture, fisheries, the living biosphere etc…
4°C only costs 2.1% of GDP and 8°C only 8.5% of GDP. It’s outrageous fraud completely ungrounded in reality.
https://www.ucl.ac.uk/news/2020/sep/nobel-prize-winning-economics-climate-change-misleading-and-dangerous-heres-why
There are those of us who studied economics who aren’t brainwashed by Friedman and the like. But the US has proven for decades that it would prefer greed and individualism to influence policy rather than actual economic theory.
yeah the base assumption upon which all of economics is flawed (rationality) but it still produces some useful analytical models
yeah the base assumption upon which all of economics is flawed (rationality) but it still produces some useful analytical models
Started as a branch of moral philosophy.
Complete with 3 major branches!
wait i know this one is it monetarists keynesians and charlatans or capitalists, communists, and people who can’t do math?
Austrian burn 🔥