Is Economics a Sciences ?

On Marketplace yesterday there was a commentary about President Obama's pledge of putting science back into it's rightful place and the economic stimulus. Was Barack Obama only talking about Steam cell research and Global Warming, or was he being open to science other than what the Bush Administration ignored.

Economics is not a science, exactly. But it does have enough scientific elements that it might contribute something useful to the debate.

Before the president signs anything, why don't we assemble a panel of distinguished economists -- say, the past half dozen chairs of the Council of Economic Advisers plus all the American Nobel prize winners -- to rate the different spending measures in the stimulus package according to how many jobs they will deliver at how much cost?

This is an important to answer this question. I know that the commentator David Frum is a partisan, but it is a good point. I hear lots of reports lately questioning the spending in the new stimulus package. People are pointing out bad spending and it is starting to worry me. It is starting to sound like politics as usual from Congress.

Barack Obama was elected not to be an old style democratic. He was elected with words like Hope and Change. To me that means that people wants Barack Obama will be a transformational politician. I think the stimulus package will be the first test of his ability to be a transformational politician. If he signs a bill full of old style pork, this can hurt his image and what he wants to do in the future.


Popular Posts