>>11669663Science is a set of theories that are refined to provide greater predictive validity. Is there any predictive validity to economics?
Some sure but some points
i) you cannot model people as rational agents of their best interest
ii) micro-economics is more predictive than macro (you can easily 'upgrade' an area economically, but they didn't see the financial crashes coming)
iii) Kensyan economics was promoted because it gave states more control of your money after ww2, NOT because it was a more valid theory. This is what they teach at universities.
iv) Libertarians are wrong becasue of i)
