Thursday, April 13, 2017

Lars P. Syll — Economics — an empty and inexact science


The debate over economics "laws" continues. Science or storytelling?

Lars P. Syll’s Blog
Economics — an empty and inexact science
Lars P. Syll | Professor, Malmo University

1 comment:

AXEC / E.K-H said...

Economics — from storytelling to science
Comment on Lars Syll on ‘Economics — an empty and inexact science’

Lars Syll argues: “Mainstream economics is in the story-telling business whereby economic theorists create make-believe analogue models of the real economic system.”

This, of course, is correct. The problem is that traditional Heterodoxy has NO alternative to offer but is since 200+ years also in the story-telling busines. See:

Redefining economics
http://axecorg.blogspot.de/2017/04/redefining-economics.html

From the pluralism of false models to the true economic theory
http://axecorg.blogspot.de/2017/04/from-pluralism-of-false-models-to-true.html

The futile synthesis of neoclassical rubbish and Keynesian garbage
http://axecorg.blogspot.de/2016/12/the-futile-synthesis-of-neoclassical.html

Economics and the social science delusion
http://axecorg.blogspot.de/2016/03/economics-and-social-science-delusion.html

The Law of Economists’ Increasing Stupidity
http://axecorg.blogspot.de/2017/04/the-law-of-economists-increasing.html

In order that economics can speedily progress from cargo cult science to science it is necessary that both orthodox and heterodox storytellers retire.

Egmont Kakarot-Handtke