Home » Economics--Mathematical Politics or Science of Diminishing Returns? by Alex Rosenberg
Economics--Mathematical Politics or Science of Diminishing Returns? Alex Rosenberg

Economics--Mathematical Politics or Science of Diminishing Returns?

Alex Rosenberg

Published
ISBN : 9780226727233
Hardcover
283 pages
Enter the sum

 About the Book 

Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenbergs controversial challenge to the scientific status of economics. Rosenberg explains that the definingMoreEconomics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenbergs controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability—the capacity to create more precise forecasts by evaluating the success of earlier predictions—and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it is not a science.