normative

No Alternative To Imperfect Scientific Method

Despite the limitations of models and evidence in economics, there is no alternative to formulating well-grounded models, doing empirical work, and seeking natural experiments to learn as much as possible; abandoning that would leave only a shouting match where anything goes.

normativepending

Speaker

Paul Pfleiderer

Evidence Quote

I don't want to be anti-scientific here at all. I want to be as scientific as we in the profession can be. But obviously realize the limitations.

Source

Paul Pfleiderer on the Misuse of Economic ModelsEconTalk
Created: 6/13/2026, 12:27:00 AM

My Notes

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