Economics - Science or Cult?
With the recent global economic crisis, many people wonder if our economic policies are built on sound principles or on dubious, unscientific claims. What kinds of assumptions does Economics make about markets and the behavior of producers and consumers? What kinds of assumptions does it make about the rationality of individuals? How, if at all, are those claims empirically verified? Or are they just speculative theories proven false by the current crisis? John and Ken pursue their rational self-interest with Alex Rosenberg from Duke University, author of Economics: Mathematical Politics or Science of Diminishing Returns?
Alex Rosenberg, Department Chair and R. Taylor Cole Professor of Philosophy, Duke University