Re:Mises, Hayek, and Friedman
by plesn on Sunday December 12, 2010 @10:37PM
(#1999173)
Aah, economy on HN… : ready, fight! More seriously, as Einstein put it quite briefly, economy is not a science because it is not testable. I would even add, following some philosopher's wisdom, that behind all those pretty theories you can sense their authors' fears and desires (plus some coherence and maybe even some stats…).
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Economic theories cannot be tested, but there is definitely merit in historical evaluation of policies implemented.