Call it what it is, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Alfred Nobel made awards for 5 fields. Economics is not one of them. Economists invented their own prize with Nobel’s name somewhere in the title to try and trick people into thinking its a real science. The headline is wrong and should be corrected to read:
Trump Goes Nuclear on Riksbank Prize-Winning Economist Paul Krugman Over Tariffs Jab: ‘Deranged BUM’
It’s political economy with the politics “removed.” As if you can just subtract the human, political impact of political economy and meaningfully “only” talk cold hard dollars.
Call it what it is, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Alfred Nobel made awards for 5 fields. Economics is not one of them. Economists invented their own prize with Nobel’s name somewhere in the title to try and trick people into thinking its a real science. The headline is wrong and should be corrected to read:
Economics is absolutely a real science. That’s like saying sociology isn’t a real science.
Its a science but its actual experimental data (eg: real science) is a small fraction of the field and relatively new.
Also, much like other humanities sciences… There’s been the alarming discovery that much of what is taken for granted by earlier studies and applied at scale worldwide, is bunk - or at least very flawed. https://theconversation.com/the-replication-crisis-has-engulfed-economics-49202
So you can forgive people for being dismissive.
It’s political economy with the politics “removed.” As if you can just subtract the human, political impact of political economy and meaningfully “only” talk cold hard dollars.