Friday, August 27, 2010

Quote of the day: on why economics is not a science

anyone who sincerely believes that seemingly scientific, positive research in the sciences — especially the social sciences — is invariably free of the researcher’s own predilections is a Panglossian optimist.
That is from a fantastic commentary, with lots of links, by Professor Uwe Reinhardt on the dangers "When Value Judgments Masquerade as Science."
I wonder if those who ranted on because they were upset with an op-ed I wrote understand, to quote Reinhardt:
My advice to students and readers is: When you hear us economists wax eloquent on the virtue of greater efficiency — beware!

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