Fragile By Design or Big Lie?


10 reasons why economics is an art, not a science

経済学が科学ではなく,芸術である10の理由という題のWashington Postの記事です。

  1. Economics is a discipline, not a science.
  2. Markets are frequently ahead of, and often out of sync with, the economy.
  3. Models are of limited utility.
  4. Contextualizing data often leads to error.
  5. Narrative drives most of economics.
  6. Economists are loathe to admit that “they don’t know.”
  7. A tendency to confuse correlation with causation.
  8. The peril of predictions.
  9. Extrapolating current circumstances to infinity: Economists suffer from the recency effect, just like everyone else does.
  10. Sturgeon’s Law: Not every economist is a prize winner.

via Wash. Post