Hi Jay,
Economists have never paid much attention to data except that which
supports their model. According to Wardrop, physical scientists at Santa
Fe were stunned by the scientific naivete of the economists. As another
example, Milton Friedman's monetary theory is based on the most fallacious
post hoc ergo propter hoc argument.
I don't think economics will disappear - studying what it takes to make a
living in the world will continue to be a need - but it will be transformed
and may become a subset of ecology or chaotic systems science or some
discipline yet to be born.
Mike H
[EMAIL PROTECTED]
Facing the Future Inc.
15003 56 Avenue,
Edmonton AB T6H 5B2
(403) 438-7342
