Sen. Bernie Sanders held off on formally endorsing Vice President Kamala Harris for the Democratic nomination, urging her to put forth an agenda that prioritizes the needs of the nation's working class.
It’s like people are the ones doing the things that create an economy so economists should be integrating the study of human psychology into economic theory.
Which, to the credit of the discipline seems to be happening finally (at least more than it was in the past).
Oh yes. But more generally there’s a significant need for empiricism. Not just on the psychology of the economic individual. For example the fact that MMT’s empirical observations of reality aren’t mainstream yet is staggering. If empiricism was a mainstay or economics, these observations would have been tested and accepted if not falsified in the 90s or 2000s. Yet you have a country like the UK devastated by austerity following the great recession because that didn’t happen.
It’s like people are the ones doing the things that create an economy so economists should be integrating the study of human psychology into economic theory.
Which, to the credit of the discipline seems to be happening finally (at least more than it was in the past).
Oh yes. But more generally there’s a significant need for empiricism. Not just on the psychology of the economic individual. For example the fact that MMT’s empirical observations of reality aren’t mainstream yet is staggering. If empiricism was a mainstay or economics, these observations would have been tested and accepted if not falsified in the 90s or 2000s. Yet you have a country like the UK devastated by austerity following the great recession because that didn’t happen.