أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
While economics considered as both is science and art ,but how?
Economics is a discipline.
Economics makes a false claim to be a science just like Political Science. The truth is economics suffers from physics envy. In physics, hypotheses can be tested, but there is no way to measure the veracity of economic formulas. Human actions are not easily measurable, the variables that determine economic activity are not easily determinable, correlation is often confused to be causality and experiments are not exactly possible, unlike physics.
Economics is an art that requires an understanding of power, psychology, philosophy, history and society. Its operative assumption is that we are “utility maximizing creatures” who are rational and informed.
