Comment by 331c8c71
6 hours ago
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.
6 hours ago
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.