Economics--Mathematical Politics or Science of Diminishing Returns?: Mathematical Politics or Science of Diminishing Returns? (Science & Its Conceptual Foundations S.) (Science & its Conceptual Foundations Series SCF (CHUP))

by Alexander Rosenberg

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Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenberg's controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability—the capacity to create more precise forecasts by evaluating the success of earlier predictions—and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it is not a science.
  • ISBN10 0226727246
  • ISBN13 9780226727240
  • Publish Date 28 November 1994 (first published 1 October 1992)
  • Publish Status Active
  • Publish Country US
  • Imprint University of Chicago Press