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Comments on: Is economics a science? Yawn! http://www.tvhe.co.nz/2013/08/28/is-economics-a-science-yawn/ The Visible Hand in Economics Wed, 28 Aug 2013 17:58:17 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: TVHE | Economics and science – careful with the prediction call http://www.tvhe.co.nz/2013/08/28/is-economics-a-science-yawn/#comment-42018 Wed, 28 Aug 2013 17:58:17 +0000 http://www.tvhe.co.nz/?p=9646#comment-42018 […] did, when he made one so strict it practically excluded physics) and say economics isn’t one, whatever.  But Rosenberg’s conclusions about massively discretionary monetary policy do not follow in […]

]]> By: Matt Nolan http://www.tvhe.co.nz/2013/08/28/is-economics-a-science-yawn/#comment-42012 Wed, 28 Aug 2013 09:51:00 +0000 http://www.tvhe.co.nz/?p=9646#comment-42012 “That means we should be cautious in updating our beliefs based on
individual observations, which sensibly leads to sticky priors.”

Very very true – conceptually this fact appears to fit neatly into philosophy of science type conversations, but many people are just more interested in scoring points by attacking economics based on prediction! Rosenberg has been doing this for a long time, and I thought he had changed his tune a few years back – seems not!

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