Re:A strengthening dollar is bad for the world economy
by AnimalMuppet on Thursday December 01, 2016 @01:11PM
(#13081788)
We're measuring human behavior. The problem is that, as the circumstances change, humans change their behavior. That means that economic models only work as long as the economy keeps doing what it has been, so that the humans keep doing what they have been, which leads to an economy that continues to do what it has been...
Economics is not a hard science, and shouldn't be treated as such, but to claim it is more like the humanities is disingenuous. It is a social science. That is to say that it is still ultimately empirical, just that the empirical implications of working with humans makes the job a lot harder and ocassionally less repeatable (are we measuring innate human nature, or a fluid and ever changing culture?).