Is Economics a Pseudo Science?

[florida.bob]

Originally Posted by flash3780

Hard science is science which is verified by the scientific method. In other words, hard science is based on forming hypotheses, testing those hypotheses vs scientific controls.

"Soft" sciences, like psychology or economics, have no (ethical) way of testing a hypnosis versus a scientific control.

Then there's the TParty, whose "expert" Mo Brooks follows the Psycho Science tribe.

[X14Freak]

Well, Economists took the principles of the Laws of Thermodynamics to create the Black-Scholes Options Pricing Model so perhaps it is a science.

[C.C]

Originally Posted by flash3780

Hard science is science which is verified by the scientific method. In other words, hard science is based on forming hypotheses, testing those hypotheses vs scientific controls.

"Soft" sciences, like psychology or economics, have no (ethical) way of testing a hypnosis versus a scientific control.

I tried testing a hypnosis once but I couldn't remember the results...

[jetgraphics]

Any "science" that uses a variable (money) as its unit of measurement is not science.
Any "science" that refuses to recognize that usury calculations using exponential equations require an infinite money supply to maintain operation, is not science, but self-delusion.
In short, "Economics" is not really science, but a pseudo religion, based on beliefs and deception.
...............................................
In 1836 John Whipple, an American lawyer, showed the impossibility of
sustaining long term metallic usury:

" If 5 English pennies... had been... at 5 per cent compound
interest from the beginning of the Christian era until the present
time, it would amount in gold of standard fineness to 32,366,648,157
spheres of gold each eight thousand miles in diameter, or as large as
the earth."

If 32 billion earth sized spheres of gold are needed to pay compound interest on the long term, what 'genius' does it take to realize that short term usury is also flawed. (A proportion of debtors will default not because they're "bad" but that the money does not exist with which to pay usury.)

[newonecoming2]

Economics is colored by what you want to see. The rich want to see themselves getting richer. Marxism sees everyone as being taken care of etc. Keynesian sees the bubble growing forever.

I try to look at what works.