[quantumgarbage]

That isn't a vague strawman, that's a great point. Economists work from assumptions, which can be flawed in two ways: they can be blatantly wrong (see the work Kahneman and Tversky did on the rational individual hypothesis) and they can be unfalsifiable (you can't always gather data about the assumption itself). There is a good essay on this from Tirole (yet a very mainstream economist) here: https://www.tse-fr.eu/sites/default/files/TSE/documents/doc/...

[corimaith]

You're pointing to a critique of an assumption, what I'm saying can you name a specific economic policy or position given by an economist that is used in real public policy and then we can measure the merits of those policies and their assumptions as opposed to the counterfactuals. I'd bet 9/10 times the chosen policy likely would have been the most logical option.

After all, it's not like the epistemologies of the other humanities stands on far more shakier grounds...

[Eddy_Viscosity2]

> the most logical option

Well for whom? Another aspect of this problem is an economic solution can have winners and losers. An economic policy that invokes slavery as solution to labor issues may actually be 'logical' but clearly puts the interests of one group over another. Economics is just the science resource allocation after all. People have some serious biases when it comes to deciding policy on who gets what and how.

[corimaith]

I've asking multiple posters to give a specific policy example to critique and so far all of you have been unable to do so, instead dancing around and critiquing vague notions of a possibility of bias without giving concrete examples. Very postmodern, but this is why actual policymakers don't listen to critique like this.

[Eddy_Viscosity2]

Ok, cutting taxes to the very rich while raising them on middle and lower classes and cutting services. This was part of the big beautiful bill. This is 'logical' from the point of view of the billionaire class, but in terms of the economy that everyone else lives in, things will be worse for them.

[corimaith]

>Ok, cutting taxes to the very rich while raising them on middle and lower classes and cutting services. This was part of the big beautiful bill. This is 'logical' from the point of view of the billionaire class

Deciding who benefits or not from legislation is not a Economist's domain, their work is descriptive, not normative. You're critiquing politicians here for prioritizing GDP, but that is divorced from your critique of economics. The economist will only tell you what they think will happen with regard to the economy if you pass a bill or not given the goals you've outlined to them.

https://taxfoundation.org/blog/big-beautiful-bill-impact-def...

https://www.cbo.gov/publication/61387

Well you look at analysis here, do you then disagree with the predictions of the bill and the methodology used, and if so, what is your better analysis here with supposedly more refined epistemic assumptions?

[erxam]

Milei's government slashed the national health care budget by 48 percent in real terms and fired over 2,000 Health Ministry workers — 1,400 in just a few days in January. These drastic moves were part of Milei's broader plan to shrink the state and remake Argentina's debt-ridden economy.

Among the most dramatic cutbacks was the dismantling of the National Cancer Institute, which halted early detection programs for breast and cervical cancer. Funding was also frozen for immunization campaigns, severely disrupting vaccine access during Argentina's first measles outbreak in decades. The National Directorate for HIV, Hepatitis, and Tuberculosis lost 40 percent of its staff and 76 percent of its budget, delaying diagnosis and treatment across the country. Emergency contraception and abortion pill distribution have also stopped.

Prescription drug prices and private health insurance premiums have surged by 250 percent and 118 percent, respectively, according to official data.

https://www.bignewsnetwork.com/news/278391265/mileis-austeri...

Obviously, this is an article from the political side of things (I tried to cut out value judgements), but these are decisions made by actual economists like José Luis Espert, Agustín Etchebarne, Federico Sturzenegger, Alberto Benegas Lynch and probably a million others I'm not aware of.

[reactordev]

There is no economics that involves enslaving other humans. Not slavery. Not ever. However, in debt in perpetuity is a thing. So you have to work to pay, so you can live, so you can work, so you can pay…

Debt crisis is a real problem. We have borrowed more than we can ever repay, all nations, for the last 30 years. Both sides. Just drove right off the cliff.

[JumpCrisscross]

> Economists work from assumptions

All models start with givens…

[idiotsecant]

Which is fine, as long as your assumptions are good models of reality. When your assumptions are essentially articles of faith your models tend to be about as good as the guys who interpret patterns in chicken bones.

[aorist]

You need assumptions exactly for the things which cannot be tested against reality. Otherwise why assume rather than measure?

[JumpCrisscross]

> Otherwise why assume rather than measure?

You need a model to design an experiment.

This is how all science is done. You hypothesize. Then experiment.

[quantumgarbage]

Sure, that does not mean all models are equal.

Economics both describe and prescribe, so those models should be evaluated on their predictive power and on whether they have actually done any good.

[JumpCrisscross]

> that does not mean all models are equal

Sure. Nobody claimed that. I’m just pointing out that being upset that a model makes assumptions is nonsense.

[quantumgarbage]

We are questioning the assumptions themselves, not the act of making them.

(I don't feel like anyone is upset?)