Sunday, September 29, 2019

Must-read for all scientists. Are you accepting anti-scientific theory from macro economists?

Do you mistrust the predictions of mainstream macroeconomic growth models and reject the policy prescriptions of their practitioners? Many do. 
Is this fair? And what would we do instead? 
How about using physics ? Certainly as a field it has a pretty good track-record for describing nature, at least as an alternative to religion and magic. The big thing in physics as a field or any other science is that it demands falsifiable hypotheses rather than the opinion or Ivy league pedigree of its practitioners. Results should enable useful predictions, those that offer the potential for robust long-range forecasts subject to physical constraints.
Read the post here: