koqoo on Nostr: Economics is a Pseudoscience #Economics: 1. makes dodgy assumptions: It assumes ...
Economics is a Pseudoscience
#Economics:
1. makes dodgy assumptions:
It assumes people make rational decisions, but we know that's not always true.
2. can't predict the #future:
Its models and theories often get it wrong, and they're frequently changed or scrapped when new data comes in.
3. oversimplifies things:
It tries to explain complex systems with simple models, which is way too #misleading.
4. ignores #uncertainty:
It doesn't account for things that are unpredictable, which leads to bad predictions.
5. doesn't test its theories properly:
It relies too much on maths and not enough on real-world #evidence.
6. ignores power and politics:
It assumes #markets are fair and efficient, but we all know that's very rarely true.
7. doesn't have a unified #theory:
It's got lots of different theories and models, but no single one can explain everything.
8. relies too much on #maths:
It uses maths to explain things, but maths can be misleading if it's not based on real-world evidence.
9. ignores external factors:
It doesn't account for things like environmental damage and social inequality, which can affect the #economy.
10. isn't transparent or accountable:
Economic #research is influenced by personal opinions or special interests, rather than being based on evidence.
#Economics:
1. makes dodgy assumptions:
It assumes people make rational decisions, but we know that's not always true.
2. can't predict the #future:
Its models and theories often get it wrong, and they're frequently changed or scrapped when new data comes in.
3. oversimplifies things:
It tries to explain complex systems with simple models, which is way too #misleading.
4. ignores #uncertainty:
It doesn't account for things that are unpredictable, which leads to bad predictions.
5. doesn't test its theories properly:
It relies too much on maths and not enough on real-world #evidence.
6. ignores power and politics:
It assumes #markets are fair and efficient, but we all know that's very rarely true.
7. doesn't have a unified #theory:
It's got lots of different theories and models, but no single one can explain everything.
8. relies too much on #maths:
It uses maths to explain things, but maths can be misleading if it's not based on real-world evidence.
9. ignores external factors:
It doesn't account for things like environmental damage and social inequality, which can affect the #economy.
10. isn't transparent or accountable:
Economic #research is influenced by personal opinions or special interests, rather than being based on evidence.