by Mark Thoma, University of Oregon (Department of Economics)

Visit Economist's View

Economics is at Last a Science

Posted on July 28, 2008

The subtitle on this article says:The dismal science is at last a science and the world is the beneficiary.Here are a few parts of the article, though much is omitted, which is mostly an argument about the virtues of the market system:Economics Does Not Lie, by Guy Sorman, City Journal: Though economics as a discipline arose in Great Britain and France at the end of the eighteenth century, it has taken two centuries to reach the threshold of scientific rationality. Previously, intuition, opinion, and conviction enjoyed equal status in economic thought; theories were vague, often unverifiable...

Original article link


central bank , china , currency , economy , federal reserve , india , inflation