Dr Ha-Joon Chang
1 May 2014
London School of Economics and Political Science (LSE)
1:02:45 Economy predictions exist to make astrology respectable.
Yes, you can predict certain things, but that requires quite restrictive assumptions in very fixed situations.
Economy can never be a science, because:
a. All of its categories are political, and
b. Unlike objects studied by natural science, human have free-will.
Entrepreneurs–by definition–behave in an irrational way.