An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Thursday, April 13, 2017
Lars P. Syll — Economics — an empty and inexact science
The debate over economics "laws" continues. Science or storytelling?
Economics — from storytelling to science Comment on Lars Syll on ‘Economics — an empty and inexact science’
Lars Syll argues: “Mainstream economics is in the story-telling business whereby economic theorists create make-believe analogue models of the real economic system.”
This, of course, is correct. The problem is that traditional Heterodoxy has NO alternative to offer but is since 200+ years also in the story-telling busines. See:
Economics — from storytelling to science
ReplyDeleteComment on Lars Syll on ‘Economics — an empty and inexact science’
Lars Syll argues: “Mainstream economics is in the story-telling business whereby economic theorists create make-believe analogue models of the real economic system.”
This, of course, is correct. The problem is that traditional Heterodoxy has NO alternative to offer but is since 200+ years also in the story-telling busines. See:
Redefining economics
http://axecorg.blogspot.de/2017/04/redefining-economics.html
From the pluralism of false models to the true economic theory
http://axecorg.blogspot.de/2017/04/from-pluralism-of-false-models-to-true.html
The futile synthesis of neoclassical rubbish and Keynesian garbage
http://axecorg.blogspot.de/2016/12/the-futile-synthesis-of-neoclassical.html
Economics and the social science delusion
http://axecorg.blogspot.de/2016/03/economics-and-social-science-delusion.html
The Law of Economists’ Increasing Stupidity
http://axecorg.blogspot.de/2017/04/the-law-of-economists-increasing.html
In order that economics can speedily progress from cargo cult science to science it is necessary that both orthodox and heterodox storytellers retire.
Egmont Kakarot-Handtke