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Science is defined by substance and formal consistency. Economics fails on both of those counts. There isn't any way all over Joan Robinson’s conclusion: Scrap the whole lot and start again.
a method of economics beneath which ownership of and financial commitment in the signifies of generation and distribution is dependent chiefly on firms and personal people today. — capitalist, n. — capitalistic, adj.
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M A J Jeyaseelan Sep 12, 2015 This is a delusion to think that economics exists with the advantage of economists. No science owes its existence to individuals that analyze it. Each and every science serves a societal reason and its advancement won't stop right until the know-how gained fulfils its guarantee.
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de Lafayette Sep 13, 2015 Paul Romer, on the list of originators of recent growth idea, has accused some primary names, such as the Nobel laureate Robert Lucas, of what he calls “mathiness” – making use of math to obfuscate instead of make clear.
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