Radical Innovation in Empirical Economics
Chapter 12: Why Emulate Medicine?
Chapter 12 describes in broad outline the sort of radical strategy that is needed to provide a really strong foundation for empirical economics, so that it can hope to make a better job of meeting the challenges described in Part I. It involves emulating some – and I stress, only some – of the methods and approaches used in the academic discipline of medicine, and in the medical profession. I believe it offers a potential resolution of the apparent impasse – a way of addressing the criticisms of economics in Part I, while allowing the mainstream to carry on with confidence
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