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by grenoire 3276 days ago
People most often overlook two things when it comes to economics.

First one is that it is based on drawing conclusions from models that attempt to simplify extremely complex interactions of billions of agents.

Second one is that although these models are imperfect (otherwise they would be unsolvable and bring no meaningful intuition), they are getting better over time.

Stop dismissing economics because 'it doesn't work.' The subject of the science simply doesn't have any determinism to it whatsoever, and things aren't reasoned through discovery as it is the case with natural sciences.

1 comments

How can you be sure the models are getting better (more accurate) over time?