Economics: Theology or Science?
Robert Shiller, a professor of economics at Yale , writes “on whether economics is science: HERE , Wednesday 6 November, and RUSS ROBERTS of Café Hayek comments, 6 November HERE
Robert Shiller: “We judge economics by what it can produce. As such, economics is rather more like engineering than physics, more practical than spiritual.”
Russ Roberts: I don’t agree with any of that. And I don’t think Adam Smith or F. A. Hayek (or my co-host, Don Bourderaux) would either. I think understanding how prices emerge to steer resources without anyone being in charge to be intrinsically fascinating and even spiritual.”
We may wonder at something but to believe it is “even spiritual” is theology, not science.