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Re:What is money, anyway? by md_ on Monday March 28, 2022 @01:56PM (#30833462)
Sure; Keynes coined the term "animal spirits." Yet the criticism (that economics is too modelling-based) is widely levied, e.g. see https://www.theguardian.com/commentisfree/2016/sep/19/its-ti..., https://aeon.co/essays/economics-is-once-again-becoming-a-wo....

Is it the whole story? Probably not. Like I said, I'm not an economist.

But given the extreme challenges in empirically testing macroeconomic models, it should be no surprise that economists might--as somewhat irrational humans--over-rely on theoretical models.

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