The Illusion of Economics

The Keynesian trade-off was comprehensively refuted in the 1970s. Hilariously, Keynesians simply revised their theory to include a new term, supply shock. Since then, world's economies have witnessed every imaginable combination of inflation and unemployment rates. Any diversion away from this relationship can be explained by invoking a supply shock or various other thought substitutes - so there can be no observation that falsifies it. The illusion of economics is a precise, quantitative and empirical science only maintained through the exemption of its theories from empirical real-world examination.