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Replies to #98829 on Biotech Values
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medchal

07/15/10 8:25 AM

#98846 RE: bladerunner1717 #98829

"Do you know of any economists who claim that economics is a predictive science?"  Yes:  Every single one of them, since they all make (and defend vociferously) predictions, and seem to live to make predictions--all of which are less reliable than the weather forecast for three days from now.  Economists are never too dismayed by the usual failure of their predictions, either, always being quick to explain, post facto, the refusal of events to follow the natural predicted course.  Most economists are attached to a political party, and most of their predictions are made at least partly to serve political ends.

I'm not "confusing" anything, blade.  If economics were even as much as a discipline, there'd be a bit of agreement about this and that instead of constant partisan political wrangling.  Economics is, in fact, more of a religion than anything else, and more like voodoo than any of the major religions.  It is the perfect cover for people like Reich and Laffer who couldn't cut it in any real "discipline" in which, at the least, the results of various deliberate interventions would be somewhat predictable.