Few things are as dangerous as economists with physics envy

Scientists are supposed to reach their conclusions after doing research and weighing the evidence but, in economics, conclusions can come first, with economists supporting a thesis that fits their moral worldview.

 

A trader rubs his face while working on the floor of the New York Stock Exchange October 7, 2008 in New York City. (Photo by Mario Tama/Getty Images)

Two questions: is it good or bad that professional athletes earn 400 times what nurses do, and is string theory a dead end? Each question goes to the heart of its discipline. Yet while you probably answered the first, you’d hold an opinion on the prospects of string theory only if you’ve studied physics. 

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