An Admission of Failure

摘要

AS I NEAR THE END of a long career in economics, I am convinced that economists, like many other scientists, have failed miserably in their mission to enlighten the population. We have failed both in narrow, professional issues and in the broader issues facing society.Science proceeds by careful observation, formulating explanatory hypotheses, and testing those hypotheses with rigorous analysis. As far as is humanly possible, science seeks to be objective.