Does economics need a scientific revolution?
Ivan O. Kitov
TL;DR
This paper argues that economics should focus on improving measurement accuracy and empirical research standards rather than pursuing a radical scientific revolution.
Contribution
It emphasizes the importance of precise measurement and empirical validation over revolutionary changes in economic theory.
Findings
Economics requires high-standards measurement.
Empirical relationships are crucial for progress.
A scientific revolution is not necessary for economics.
Abstract
Economics does not need a scientific revolution. Economics needs accurate measurements according to high standards of natural sciences and meticulous work on revealing empirical relationships between measured variables.
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Taxonomy
TopicsComplex Systems and Time Series Analysis · scientometrics and bibliometrics research