Noted Economist Paul Krugman asks if economics is a Science. Mainly he critiques Adam Ozimecs argument that it is. I think that economics isn’t a science yet (although lots of economists working with micro data and either prforming experiments or finding natural experiments are acting as scientists). The claim is that economic theories have bowed to facts. The one example presented by Ozimek in which this actually happened is the abandonement of the Phillips curve by academic ecnomists (actual policy makers still use it all the time). … The claim that economics is a science is fundamentally based on the one hisorical episode in which the evidence was so overwhelming that it … Continue reading Robert Waldmann