The Gluten Lie: And Other Myths About What You Eat, Author: lan Jay Levinovitz.
Mathiness in the Theory of Economic Growth, Author: Paul Romer.
The Rhetoric of Economics, Author: Deirdre N McCloskey.
Economics as Religion, Author: Robert H Nelson.
Astral Science in Early Imperial China, Author: Daniel P Morgan.
Book of Documents, Author: king Yao.
By lan Jay Levinovitz – Unlike engineers and chemists, economists cannot point to concrete objects – cell phones, plastic – to justify the high valuation of their discipline. Nor, in the case of financial economics and macroeconomics, can they point to the predictive power of their theories.
In the hypothetical worlds of rational markets, where much of economic theory is set, perhaps. But real-world history tells a different story, of mathematical models masquerading as science and a public eager to buy them, mistaking elegant equations for empirical accuracy.
The notion that an entire culture – not just a few eccentric financiers – could be bewitched by empty, extravagant theories might seem absurd. How could all those people, all that math, be mistaken?
This was my own feeling as I began investigating mathiness and the shaky foundations of modern economic science. Yet, as a scholar of Chinese religion, it struck me that I’d seen this kind of mistake before, in ancient Chinese attitudes towards the astral sciences.
Back then, governments invested incredible amounts of money in mathematical models of the stars. more> https://goo.gl/tYDpbv