On Monday, February 3, 2003, at 04:55 PM, Fred Foldvary wrote:

--- Grey Thomas <[EMAIL PROTECTED]> wrote:
First off, if "macro" is at all close to a "science",
there should be near unanimity, among macro "experts",
Is there unanimity among anthropologists and biologists and physicists and
medical researchers?
Well, if you ask 100 physicists what will happen if you shoot a beam of protons into a lead target you will get unanimity. There are always frontiers where not enough experiments have been done to provide conclusive evidence, but that's different than economics where experts can't even agree what will happen if you do simple things like change interest rates.

It's incredibly difficult in macro-economics to do experiments with proper scientific controls on all of the variables. And the results would have such political implications that researchers often go out looking to prove their pet theory, not to find the truth.

Fred Foldvary

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