Al Capital

Economists: They're Just Modelers

Economists attempt to explain the system. Those that publish models are putting their ideas to the test, to be validated or invalidated. With either result, we learn something. Improving on economic models, or pointing out that despite the existence of a mature academic discipling there is no functional model of capitalism, has some value. Indeed, being critical of economic models is a vital part of the process of learning about them and improving our understanding of what those models are trying to simulate. But bashing economists, well that is simply pointless.