07 Nov 2009

Why Falsifiability Seemed So Appealing For a While

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It was to disqualify statements like this from the bounds of science:

[V]ery few main-street economists of any stripe agreed with Art Laffer’s work but Reagan elevated it to a governing mantra and central trope of the political party he led (it is a credit to the strength of the country, if not to the perspicuity of its electorate, that it took nearly three decades for those policies to weaken the it sufficiently to collapse the economy).

(Note that the above is not from Brad DeLong, it is from a commenter “RW” on DeLong’s blog.)

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