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TheEvertw
Richard J Murphy
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Comments by "TheEvertw" (@TheEvertw) on "Economists should learn to think" video.
"economics" is not a science, as you describe it. The value of a model is in is the accuracy of is predictions. Thus models that are not validated against reality have no value. So, why are there no economists asking the simple question "how did you validate your model?" -- and crucifying anyone whose answer is lacking rigor?
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@maria8809ttt No, that isn't a Milton Friedmann quote. That is a quote from a man who was taught the proper modelling techniques that underpin all hard science: ME. In hard science models are valued ONLY on their ability to accurately predict the outcome of experiments. Because the Laws of Physics are nothing more than a model of physical phenomena.
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