Is Academic Economics Broken?
Maxximilian Seijo
213

The irony of economics as a field is that what it does best is identify and explain what happned.

What practioners WANT to do is explain what will happen.

All of those tools and assumptions are useless for the latter but mildly useful for the former.

Economics is a very powerful but extremely limited field and it is tarnished by the delusions of grandeur of those that practice it.