Professor Per Bylund of Oklahoma State University, author of How to Think About the Economy joins Jeff and Bob to dissect how economics went so badly wrong. A discipline rooted in theory, axioms, and deduction has devolved into statistics, models, and hard science envy. Is the economics profession doing any good, or active harm?
Per’s new book How to Think About the Economy: https://Mises.org/Primer
Gary North and Walter Block debate “Is it Smart to Get a PhD in Economics”: https://Mises.org/HAP380a
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00:00 Introduction
01:13 Economics Denialism
04:44 Economics as a Hard Science
12:39 Theory in Economics: Is it Useful?
24:56 Incentives to Study Economics