Quote Originally Posted by slapout9 View Post
You are right and James would agree with you.
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 to content to tackle their field with barely the math an undergrad might pick up in his first two years.

If you go to the back of the book I recommended you will see that James recommends that future economics rest on 3 Pillars, to use the jargon of the day. And they are Planning,Engineering,and Basic Scientific research. No Econometric Math toolkit required.
I don't see how anyone can tackle the last two pillars without math. A qualitative science isn't a very useful one.