| > Since every "experiment" is conducted in theory or in a simulation at best, and not in the real market Really? Because post-GFC there was all sorts of economic experimentation with regards to austerity: * https://www.weforum.org/agenda/2015/09/how-does-austerity-af... Also: * https://www.businessinsider.com/austerity-has-damaged-europe... * https://www.theguardian.com/business/ng-interactive/2015/apr... * https://www.researchgate.net/figure/The-Impact-of-Austerity-... There have been all sorts of experiments with regards to tax policy: * https://en.wikipedia.org/wiki/Kansas_experiment Every time there are tax cuts "that will pay for themselves" an experiment is run: * https://www.npr.org/2019/12/20/789540931/2-years-later-trump... When post-GFC QE was enacted one group of people (Keynesians) said no inflation would occur, and another (right-leaning) group said all sorts of things would happen: > We believe the Federal Reserve's large-scale asset purchase plan (so-called "quantitative easing") should be reconsidered and discontinued. We do not believe such a plan is necessary or advisable under current circumstances. The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed's objective of promoting employment. * https://economics21.org/html/open-letter-ben-bernanke-287.ht... Which group was right? Seems that lot of experiments have been done in "the real market". |
You can't just spam out a number of articles and expect me to read them all and make out your point for you. Please, this is not reddit.
If you have a counterpoint to make to the fact that no economic experiment can be conducted in real time in the market, and also be repeated, then please share it. I'd love to hear it.
From your first source, just as an example.
>we explore the correlations in the data starting from the simplest and gradually building up – in a step-by-step, transparent manner – to multivariate regressions based on various samples of countries for different periods.
So they looked at data from one unique timeperiod in history. This is not a repeatable experiment.