economics is not science

[alanjjohnstone]

LBird, i thought of you when i read this article.

http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/how-to-use-economics

 Economics is a political argument. It is not – and can never be – a science; there are no objective truths in economics that can be established independently of political, and frequently moral, judgments. Therefore, when faced with an economic argument, you must ask the age-old question 'Cui bono?' (Who benefits?)…Political and ethical judgments are present even in ostensibly value-free exercises…you should never believe any economist who claims to offer 'scientific', value-free analysis….There isn't just one right way of 'doing' economics, despite what most economists tell you…[/quote]

[Author]

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