Kasz216 on 08 August 2011
Truth is, at the end of the day Monetarists and Keynesians are social scientists that like to pretend they are hard scientists.
Here is a pretty decent article explanation.
http://blogs.reuters.com/great-debate/2011/07/27/economist-heal-thyself/
Economic modeling really doesn't work, and the equations are largely meaningless... the differences is, unlike the dog... most economists are willing to keep running into that fence, because it's better off doing that then admitting that statistical models don't work like the "real" sciences.
We'd have better economic predictions if we actually backed off the stats and integrated more qualitative methods.
