Economics' greatest hits? ... or... Where's the science in economics?
June 23, 2009 12:54 PM Subscribe
As a former scientist, help me gain some faith in economics. What were the great successes of economics as a tool for making better decisions in the last 100 years?
posted by zaebiz to science & nature (20 answers total) 25 users marked this as a favorite
The Queen of England said it best for me : Why did none of the big shot economists see this crisis coming
Having been scientifically trained, I have always had this belief that economics is a mostly mathematical rationalisation of events after-the-fact with the same predictive capabilities as astrology and whose validity decreases as more people believe in it. Why am I wrong? what demonstrable uses has it had? Also interested in any books or papers discussing either side of this debate.