Overview

Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenberg's controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability—the capacity to create more precise forecasts by evaluating the success of earlier predictions—and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it is not a science.

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Alex Rosenberg is the R. Taylor Cole Professor of Philosophy and Biology at Duke University and the author of many books, including Economics--Mathematical Politics or Science of Diminishing Returns? and Instrumental Biology, or The Disunity of Science, both published by the University of Chicago Press.

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