Scientifically "good" economics may be based on tiny p-values and control groups, but more often than not that would be morally bad economics. As is sometimes the case in the hard sciences, doing robust experiments on people often means hurting people, or at least knowingly putting people in harms way. You might get better data, but as a society we've decided that that is not ethical. This leaves empirical economists with only accidental experiments and generally poor quality data sets to try to draw inferences from.
On Saturday, September 19, 2015 at 12:46:58 PM UTC-5, Cathal Garvey wrote:
-- On Saturday, September 19, 2015 at 12:46:58 PM UTC-5, Cathal Garvey wrote:
*Good* economics should be done based on evidence, tiny P-values, and
rational comparisons or even control groups where possible. So "Good"
economics is scientific.
Bad economics is done on large, buggy excel tables and leads to stupid,
evidentially unsupportable outcomes like austerity which are
doubled-down on for the sake of reputation. This, like bad science, is
not science at all.
On 18/09/15 18:28, Nathan McCorkle wrote:
> Isn't economics a form of science?
>
> On Wed, Sep 16, 2015 at 5:27 PM, social econ <econand...@gmail.com> wrote:
>> Hello,
>>
>> How important is science? How important is economics? Which one is more
>> capable of dealing with climate change? What do you think and what do other
>> people think?
>>
>>
>> We are researchers from the University of Otago's Centre for Science
>> Communication in New Zealand, and we are working to understand how
>> practicing scientists with Masters or PhD degrees judge the relative
>> importance of science and economics in solving major challenges such as
>> climate change, food security, health, natural resource management, and
>> environmental protection.
>>
>>
>> We will be running a survey and we hope that you might fill it in. The
>> survey should take no more than 15 minutes, is voluntary, anonymous, and has
>> ethics approval from the University of Otago. The survey will be open until
>> the 30th of September.
>>
>>
>> The Survey is now open and available here:
>> https://www.surveymonkey.com/r/L2FB6WP
>>
>>
>> Yours, with thanks,
>>
>> Fabien Medvecky
>>
>> PhD University of Sydney
>>
>>
>> Vicki Macknight
>>
>> PhD University of Melbourne
>>
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>
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