What Economics Can (and Can’t) Do

“In John Stuart Mill’s view, which I believe is basically correct, economics is a separate and inexact science. It is separate from the other social sciences, because it focuses on only a small number of the causal factors that influence social phenomena. It is inexact because the phenomena with which it deals are influenced by many other causes than the few it focuses on.”

http://opinionator.blogs.nytimes.com/2015/07/14/what-economics-can-and-cant-do/

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