Kind of both. The science of economics is full of models with false assumptions and self fulfilling prophecies. Economy exists because we believe it does and because of said self fulfilling prophecies
Economy exists not because we believe it does, but because we agreed to follow particular rules, many of which are enforced by state. It is emergent phenomenon. But it does not make it any less real than any other emergent phenomenon, like air pressure.
Kind of both. The science of economics is full of models with false assumptions and self fulfilling prophecies. Economy exists because we believe it does and because of said self fulfilling prophecies
It’s not even a science. It does not use the scientific method. It’s the bastard child of statistics and capitalist philosophy.
Economy exists not because we believe it does, but because we agreed to follow particular rules, many of which are enforced by state. It is emergent phenomenon. But it does not make it any less real than any other emergent phenomenon, like air pressure.