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    ... Just something I was wondering about, as someone asked me this today and I didn't know. Or is it neither? Sorry if it's a stupid question

    Discuss?
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    It's a social 'science'. It's got nowhere near as much philosophical content as PoliSci, IR, or Sociology where there's a whole set of epistemological and ontological debates, and IMO no social science can be compared to a natural science.
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    Economics, particularly compared to PoliSci, Sociology, or Anthropology, is a highly empirical science. You form hypotheses, develop models, and compare them to real world data. Some schools of economics (e.g. the Austrians) use a less scientific approach, but by and large mainstream economics utilizes all of the methods of science.
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    It's divination. You'd probably do as well by reading chicken entrails.
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    (Original post by Howard)
    It's divination. You'd probably do as well by reading chicken entrails.
    Economics, while an imprecise and still developing technology, is far more accurate than this.
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    (Original post by a.posteriori)
    Economics, while an imprecise and still developing technology, is far more accurate than this.
    Economists are all Monday morning quarterbacks. Even those at the very top of the profession; the Greenspans of the world; can't tell you what's going to happen until after the event.
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    (Original post by Howard)
    Economists are all Monday morning quarterbacks. Even those at the very top of the profession; the Greenspans of the world; can't tell you what's going to happen until after the event.
    Nouriel Roubini? Robert Shiller? Nassim Taleb? Raghu Rajan? Kenneth Rogoff? People - a lot of people - predicted it. It's not their fault if the mainstream media - and politicians - didn't listen.
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    Macroeconomic policy failings arent necessarily the failure of the subject, but even central bankers have said conducting monetray policy is a bit of a dark art founded as much in quantatative evidence as it is in intuition and gut feelings.

    Theres a lot of microeconomics thats undeniably fact and not some pseudoscience
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    (Original post by a.posteriori)
    Nouriel Roubini? Robert Shiller? Nassim Taleb? Raghu Rajan? Kenneth Rogoff? People - a lot of people - predicted it. It's not their fault if the mainstream media - and politicians - didn't listen.
    A lot of them missed it as well.
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    (Original post by Howard)
    A lot of them missed it as well.
    Many scientists didn't believe that the theory of relativity could possibly be true - or quantum mechanics for that matter. Does this mean that physics is a useless science?
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    Its the dismal science
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    (Original post by Maker)
    Its the dismal science
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    Social science. Science.
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    (Original post by flugestuge)
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    get a life
 
 
 
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