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Sunday, March 20, 2011

Is Economics One Science ?

Below I argue that most of economics isn't scientific and that it isn't one field of enquiry, because there are fundmantal disagreements among economists about what economics is and should be. I will try to summarize.

Some economic research (not mine) is empirical and generally convincing. The non economist skeptic will accep their conclusions as probably to almost certainly true and say "so wha?".

There is a core of thought on economics with which everyone who claims to be a trained economist must be familiar.

There is no overlap.

Some people disagree with me. I haven't explained myself well. Maybe that's why no one has presented an example of a statement which is both part of the canon of economics and based on data.

I will now quote something a very prominent economist said long long ago when I was still I a biologist

"What you mean you can win the Nobel prize in biology for discovering a fact ?"

Stated with shock and horror.

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