Blog-Reference and Blog-Reference and Blog-Reference and Blog-Reference
- Science does not explain everything, but non-science explains nothing.
- Neither orthodox nor heterodox economics satisfies the scientific criteria of material and formal consistency.
- Economists cannot explain how the economy works. The profit theory is false since Adam Smith. There is much opinion and little knowledge.
- Opinion is the realm of political economics, knowledge is the realm of theoretical economics.
- Political economics is scientifically worthless.
- Theoretical economics is built upon clearly stated premises, i.e., upon a set of axioms.
- Orthodoxy got the axiomatic foundations wrong and traditional Heterodoxy has none at all.
- Economics is a failed science.*
* For a new start see cross-references Paradigm shift
Related to 'Redefining economics' and 'How to be a good scientist'