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ABSOLUTLEY INADMISSIBLE IDEAS

Grant’s Current Yield Podcast

CHAPTER

The Pseudoscience of Economics

There is a kind of flourishing pseudoscience, perhaps you'd agree with this or maybe not, that we call macroeconomics. The propositions by the monetary economists seem unfalsifiable and ungrounded in empiricism. They seem not actually to be working very well, yet they do seem to be persistent. Why has science lost its way and then moved into economics? Partly it's because it's politically attractive, of course, to expand the money supply continually.

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