Is Economics a Science?

The 2022 Nobel prize in economics will be announced tomorrow, Monday, October 10. Of course, it is not a “real” Nobel prize but rather the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel” but I will use the conventional phrase “Nobel prize in economics.” The official name does raise an interesting question. Why …

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Economists Knowingly Publish Papers with Errors

I have documented errors in economics papers and pointed out the arguments for why economists say they can’t do better. In a real science, authors would fix errors others have found before publishing their paper. Not in economics. In 2001, I became aware of a working paper version of “Equilibrium Welfare and Government Policy with …

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