> Well, it's not like mainstream econ cares about empirical evidences either...
Mainstream economics is tested against the real world, both through policies that assume certain models and against historical data.
Mainstream economics is tested against the real world, both through policies that assume certain models and against historical data.
But it doesn't and now the theories that have been empirically wrong for two decades are still in used to explain the current inflation rate…
That's the biggest issue with how mainstream economics works: it mostly stands on two legs (classical and Keynesian, roughly) which are both proven wrong by the real world on a regular basis but come back in flavor when the other one fails (and the Neoclassical synthesis is the wrong approach to this problem, and is in fact wrong twice as often).