Prediction or Prophecy?: The Boundaries of Economic Foreknowledge and Their Socio-Political Consequences

DUV (2006)
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Abstract

Gregor Betz explores the following questions: Where are the limits of economics, in particular the limits of economic foreknowledge? Are macroeconomic forecasts credible predictions or mere prophecies and what would this imply for the way economic policy decisions are taken? Is rational economic decision making possible without forecasting at all?

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Gregor Betz
Karlsruhe Institute of Technology

Citations of this work

Underdetermination, Model-ensembles and Surprises: On the Epistemology of Scenario-analysis in Climatology.Gregor Betz - 2009 - Journal for General Philosophy of Science / Zeitschrift für Allgemeine Wissenschaftstheorie 40 (1):3-21.
Prediction versus accommodation in economics.Robert Northcott - 2019 - Journal of Economic Methodology 26 (1):59-69.
Uncertainties, Plurality, and Robustness in Climate Research and Modeling: On the Reliability of Climate Prognoses.Anna Leuschner - 2015 - Journal for General Philosophy of Science / Zeitschrift für Allgemeine Wissenschaftstheorie 46 (2):367-381.

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