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Why Economic Models Do Not Explain

By Lars P. SyllOne of the limitations with economics is the restricted possibility to perform experiments, forcing it to mainly rely on observational studies for knowledge of real-world economies. ....

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Leontief's Devastating Critique Of Econometrics

Leontief s Devastating Critique Of Econometrics
by Lars P. Syll
A salient feature of modern mainstream economics is the idea of science advancing through the use of “successive approximations whereby ‘small-world’ models become more and more relevant and applicable to the ‘large world’ in which we live. Is this really a feasible methodology? Yours truly thinks not.
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Most models in science are representations of something else. Models “stand for or “depict specific parts of a “target system (usually the real world). And all empirical sciences use simplifying or unrealistic assumptions in their modelling activities. That is not the issue - ....

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Tough response to prevent anti semitic crimes following Saturday s stabbing attack during a Hanukkah celebration in New York N.P.R. s Daniel Estrin reports from Jerusalem Israel s consul general in New York said quote another hate crime against Jews was just a matter of time the envoy said he met the New York City police commissioner a week ago to discuss anti-Semitic incidents in the city former Israeli defense minister of ignore Lieberman said the solution to attacks like the one in New York is for Jews to move to Israel other Israeli leaders stop short of saying that after attacks on Jews in France and elsewhere Israeli officials have encouraged Jews to move to Israel for their safety but there s a long standing tradition that Israeli officials don t do that when it comes to American citizens Daniel Estrin n.p.r. News Jerusalem Secretary of State Mike Pompei o says u.s. Airstrikes targeting Iranian backed militia in Iraq in Syria were meant to send a message they were in response t ....

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Iran from developing nuclear weapons he also asked for support ensuring the denuclearization of North Korea Franco or Donya as n.p.r. News the White House billionaire businessman a Democratic presidential hopeful Michael Bloomberg says the next u.s. President should halt subsidies for fossil fuels entirely Bloomberg making his remarks at the u.n. Global climate change conference in Madrid by taking aim at fossil fuel subsidies Bloomberg is challenging both a major u.s. Industry and Republican president Donald Trump was been a supporter of oil gas and coal mining stocks edge lower today the Dow Jones Industrial Average down $27.00 points the Nasdaq fell 5 points today if you re listening to n.p.r. The Supreme Court appears increasingly likely to rule in favor of insurance companies in a case involving the health care law championed by President Obama is expected justices will rule to allow those companies to collect $12000000000.00 from the federal government to cover their losses duri ....

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But in some machinery one of the biggest firms affected by the changes is the Borders based Johnston s availe Simon cotton is its chief executive obviously as as a u.k. Cast me a producer we said at the very high level of the market and I mean compared to his or Italian wine you factors the Italian manufacturers are not affected by this we are and that puts us at 25 percent disadvantage so it does feel like we ve been particularly good on proposed new legislation will apply a charge on single use drink cups in Scotland it s been brought forward in the Scottish Government s circular economy below the level of the charge would be set following a consultation and approval by Holyrood more months and years now the sport with Thomas Duncan thanks Derek and the mighty will face Romania s Marius corporal in the quarter finals of the European Open tonight it s after he beat Pablo quaver us in St sets last night to register another positive result on his comeback from hip surgery Scots Katie A ....

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