Not really. Galbraith is convinced that econometrics will ultimately fail because of nebulous unpredictability in human affairs. I'm convinced econometrics fails because Galbraith and the like seem...
Type: Posts; User: Presley Cannady; Keyword(s):
Not really. Galbraith is convinced that...
Not really. Galbraith is convinced that econometrics will ultimately fail because of nebulous unpredictability in human affairs. I'm convinced econometrics fails because Galbraith and the like seem...
From an interview in 1999...
From an interview in 1999: "But I don't make predictions. I long ago discovered that my wrong predictions are wonderfully remembered, and my right ones are quickly forgotten. So I rely on the history...
You've answered your own question.
You've answered your own question.
I wouldn't say that. I'm denouncing an entire...
I wouldn't say that. I'm denouncing an entire field with, as Fuchs points out, tens of thousands of lettered participants. Once all the arguments are laid out, the line of credulity between...
Let's assume my position is nonsense. Then...
Let's assume my position is nonsense. Then wouldn't the easiest means to dispense with this back and forth be to point to
You haven't provided one, yet. All you've offered is:
1. the...
Great, then it should be easy for you to point to...
Great, then it should be easy for you to point to a single economic relation or model that produces better forecasts than flipping a coin. Doesn't have to be general; conditional is fine, too.
...
The topic is "how to fix the economy." Surely we...
The topic is "how to fix the economy." Surely we should entertain the notion that the OP is nonsense. How do you fix something you no one knows how to fix?
As opposed to a peer-reviewed...
The Pareto "principle" was a crude, snapshot...
The Pareto "principle" was a crude, snapshot observation--which predicts nothing (even in "Pareto" distributed income clusters. The subsequent Pareto distribution, which by itself is nothing more...
Oh, my bar is set far lower than that. I'm...
Oh, my bar is set far lower than that. I'm asking for economists to explain--or more accurately, correctly predict--ANYTHING about SOMETHING.
No argument here. A number of veterans here eat...
Alchemists employed formalism, observation and...
Alchemists employed formalism, observation and experiment--the three methods of scientific inquiry. What they did not do was produce testable predictions that hold up under scrutiny; electing...
How many practicing alchemists conceded their...
How many practicing alchemists conceded their trade was a bunch of nonsense? For economics to amount to science, it must make testable predictions that hold up under scrutiny. It doesn't. End of...
Economics is alchemy with a cheaper tool box.
Economics is alchemy with a cheaper tool box.