Display:
"Reform" does not work, so let's do more "reform".
This is a classic case of quackery. Prescribe a treatment. If the patient gets better [as they often do even without treatment] attribute it to the treatment. If the patient gets worse, attribute it to insufficient or badly-applied treatment.

The difference between economics and medicine is that there is no way to run controlled trials. Even "epidemiology" has the problem that the number of distinct economies is too small, while there is no shortage of patients.

So, is economics hopeless?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Wed May 31st, 2006 at 10:39:33 AM EST
and what few economies there are, are interconnected so you can't to double-blind trials...

Pierre
by Pierre on Wed May 31st, 2006 at 11:17:40 AM EST
[ Parent ]
Liberalisation/globalisation is basically reducing the field to one big economy...

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Wed May 31st, 2006 at 11:32:02 AM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Recommended Diaries
Debates
Campaigns
Occasional Series
Agriculture
by afew - Aug 7

Anglo Disease
by Migeru - Aug 3