I don’t think Economics is much of a science.
I don’t see that they have “solved” any real problems in the world over the past 100 years or so.
I just see Economics as a branch of Political Science. It’s a tool that political forces use to manipulate public opinion. That’s all. Economists have been trying to convince the public all year long that Trump is a financial disaster. The people who pay the Economists do not like Trump, therefore the “economic data” must say that Trump is a disaster.
This guy is admitting that the BS is obvious to all.
On the one hand you could be right. On the other hand though you could be wrong.
All of the “Soft” sciences the statistical R^2 values usually run between 30 and 50% which means the confidence in the data is less than a coin flip.
Polisci, social studies, behavioral sciences...
Economics is on the higher side just because they have harder data to work with then some of the others but the difference between microeconomics and macroeconomics has a chasm between them.