An angry econ guy recently called me names for asserting that economics is not a science–well here comes some more proof of my case.
I would remind all of you out their that econometrics and microeconomics as well as macroeconomics theory and practice, including their very sophisticated formulae, are great examples of trans science, cargo cult science, something that looks like science but can’t make the grade, can’t pass the Popper test of falsifiability.
I still think Economics is a very important and worthwhile area of inquiry and intelligent observations and commentary are constantly flowing from economist research and study, but think of economics like psychology and social studies–too many variables, too complex and too many confounders, not enough replicability and reproducibility.
Let the games begin. Please don’t start off by accusing me of being a stupid physician/lawyer. My momma encouraged me to go to school and learn things and she would be upset to hear such things said about her oldest son. I have brothers and sisters who are smarter and better educated than me, but I try.