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Jared Bernstein: Economics is not Science

Posted by admin on Sunday, December 11, 2016

Jared Bernstein Money Quote saying there’s a complexity to the art of economics that prevents a purely scientific outcome of policy – so Trump’s Treasury Secretary pick Steven Mnuchin’s stated goal of 3.5% to 4% sustained economic growth may be excessive optimism. Jared Bernstein said:

“I wouldn’t say it’s impossible, because it’s economics and not science” — Jared Bernstein

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U.S. economic growth of 3.5% per year? "I wouldn’t say it’s impossible, because it’s economics and not science" https://t.co/rFMLR4Hxed
— Real Time Economics (@WSJecon) December 11, 2016