Comment by StopDisinfo910
8 hours ago
Of course, there is consensus in economics.
It's a field which is mostly interested in models and anyone can agree that a model is consistant and implies surprising things even if they think the hypotheses it makes don't faithfully represent reality.
It's endlessly fascinating to me how some people will happily disparage economics while having very little idea of what it's actually about.
Modelling isn't the higher intellectual pursuit it's made out to be. Imo designing theoretical models post-hoc to "support" a desired conclusion is not unheard of in econ/finance.
Precisely. To quote the famous economic dictum: it works in practice, but does it work in theory?
The 2019 economics prize went to empirical research.
The non-mainstrean economists (aka heterodox, aka cranks) are usually more obviously pursuing an agenda, but they definitely usually don't have better empirical evidence.