Author : Ricardo Dahis
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (13 download)
Book Synopsis Is Economics a Science? Well, Not Yet by : Ricardo Dahis
Download or read book Is Economics a Science? Well, Not Yet written by Ricardo Dahis and published by . This book was released on 2018 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is economics a science? Answering this question is not only necessary for philosophical clarity, but also crucial for knowing how seriously to take economists' claims and advice about public policy. Nevertheless, even among practitioners and academics, consensus is nonexistent. This paper resolves the conundrum in two steps. First I discuss some epistemology of science, defining clearly various concepts necessary to the debate. Several fallacies are clarified, such as "a theory may never be proved true, but only not falsified", "a model is useful because it simplifies reality" or "data mining is bad". In light of solid philosophical ground, I then discuss the practice and methodology of modern economics. The answer to the title question is a perhaps disappointing, but realistic, not yet. I conclude with prescriptions for a path towards a more scientific discipline.