herveus: (Default)
posted by [personal profile] herveus at 09:53pm on 2017-01-07
Those economists you speak of have consistently refused to take account of the failures of their predictions. By refusing to do so, they show themselves to lack scientific integrity, thus the scare quotes.

Unfortunately, those "economists" are over-represented on the right wing of the political spectrum. Maybe I've managed to back into the fringe, but I'm not sure your pessimism is fully warranted. I certainly have no expectations that a scientific approach to economics is going to become the rule in the powers that be today. If one wants economics to be treated as a science, then one must adhere to principle of science. Many practitioners today are not scientists but men of unshakeable faith, where evidence is irrelevant to one's firmly held belief.

Note also that there have been a number of experiments tried out in recent years. Contrast Kansas with California, for example. It was not a planned experiment, but amounts to one, from which conclusions may be reached. Will those demonstrated outcomes influence the course of future events? Good question. The voters in Kansas seem to have affirmed the awful choices made by their elected leaders by returning them to office.

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