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bell-cot • today at 6:08 PM • 1 reply • view on HN

Economics is a scientific field in the same sense that Astrology and Politics are. You formulate theories about what your customers want to hear. Then test those theories by telling your customers things, while observing both immediate reactions and how situations develop over time. That latter in conjunction with formulating updated theories about what your customers want... Endless loop.

Do they believe it's a science? Assume that Upton Sinclair's famous quote applies.


Replies

bawolff • today at 6:21 PM

This is silly. Economics is not science in the same way physics or chemistry is. But it is not totally without predictive power like astrology is.