ECONOMICS IS A SCIENCE – AND MASON GAFFNEY KNEW IT!

Click for source

Neoclassical economics treats economics as an art form or mystery that must be solved, although it does feature numerous theoretical mathematical models on which we can’t rely because many of the assumptions aren’t “real world”.

The rent of land having been buried into the incomes of labour and capital, economics as we know it is no longer a science.

The hallmark of a scientific explanation is its ability to predict.

Some heterodox economists have been able to forecast socio-economic events because they were prepared and able to factor the land market into their considerations.

Supporters of the ideas of Henry George have fared particularly well in this regard.

Click for source