Astrology has also developed over a couple of millennia.
The fact that some people use astrology to play the markets, and seem to get results that are as good as those of economic theory, says a lot about both.
Economics is entirely a faith-based pseudo-science, which plays the same role in modern culture as the nonsensical theistic “explanations” of the world put out by the Church played in medieval times.
It’s a form of political/rhetorical persuasion and social control, with an implied morality that’s never seriously questioned. Even if you accept that it’s politically descriptive and not politically predictive, it still fails.
It’s not a science in any useful way – it simply pretends to be one, because that makes it appear more authoritative.
The real scandal for me is the fact that skeptics and debunkers like the amazing Randi have spent so much time and energy on trivial topics like the paranormal, while leaving the epic intellectual fraud and imposture behind mainstream economic theory unchallenged.
See more about this article by clicking the link here: https://news.ycombinator.com/item?id=10158283
TheOtherHobbes comments on "Economics Has a Math Problem"
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