Reply to post: Phlogiston quote

My big reveal as macro-economics analyst: It's a load of COBBLERS

kmac499

Phlogiston quote

Quite right too, Economics is not science, because it will not reject it's core theories when confronted with reality. Economists simply bemoan lack of adequate data or plead a special case.

It barely qualifies as a study, along the lines of 18th Century Natural Historians cataloguing everything they find and then looking for traits in the collected data.

At least Phlogiston had a smack of logic behind it until proved wrong by experiment. I'd actually draw a closer parallel with medieval physicians and the four humors theory, which had no logical backing whatsoever, just some guy with a 'reputation' saying it is so...

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