Economics masquerades as a science

Economics masquerades as a science, because most people don’t understand it and it relies heavily on mathematics. However, because no controlled experiments can be run, it is more appropriately labelled as a form of philosophy. When you consider that this philosophy is used to justify policy, it is clear that most of economics is just political rhetoric dressed up as a scientific fact.

10 months ago 

Economists are about as useful as astrologers

Economists are about as useful as astrologers in predicting the future (and, like astrologers, they never let failure on one occasion diminish certitude on the next).

~ Arthur Schlesinger Jr.

10 months ago  2 notes

Economics masquerades as a science

Economics masquerades as a science, because most people don’t understand it and it relies heavily on mathematics. However, because no controlled experiments can be run, it is more appropriately labelled as a form of philosophy. When you consider that this philosophy is used to justify policy, it is clear that most of economics is just political rhetoric dressed up as a scientific fact.

Economists are about as useful as astrologers

Economists are about as useful as astrologers in predicting the future (and, like astrologers, they never let failure on one occasion diminish certitude on the next).

~ Arthur Schlesinger Jr.

Economics masquerades as a science
Economists are about as useful as astrologers

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