Re: Economics is not a real science; it is cargo cult science.

Michael Scheltgen wrote:

Bob Kolker wrote:

Nospam wrote:

Economics today it is into a similar state as it was Anthropometry 70 years
ago. The science has been hijacked by the political interests to push for
their agenda.


Whatever the motive, economics is not real science.


Economics is indeed a science. What do you mean by "real science"?

A discipline based on concepts that give rise to testable quantitative predictions. The test of any science is the correctness of its predictions. If a discipline makes no predictions it is not a science. If its predictions are not empirically testable (giving rise to confirmation or refutation) it is not a science. If the discipline is "bullet proof" and can explain all of its predictive failures it is not a science. If a discipline does not have at least one universally quantified postulate that will take its predictions beyond what is empirically assumed as a foundation, it is not a science. A finite catalog of facts, for instance, is not a science. It is more like stamp collecting.

Example of a -real- science; physics.

Example of a psuedoscience; Freudian Psychology.

Bob Kolker
.

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