Why this book, from someone admittedly outside the hallowed halls of economic expertise? Driven by a deep concern for the recurring failures of our economic systems - the devastation of depressions, the chaos of pandemics, the fragility exposed by trade wars - the author, a seasoned observer with a scientific and technical background, embarked on a quest. This isn't another complex theory; it's a fundamental questioning of economics' scientific footing. Inspired by Adam Smith's early attempts to apply scientific rigor to commerce, the author dissects the vast landscape of economic thought, from left to right, top-down to bottom-up, revealing a startling lack of empirical grounding. Where is the rigorous measurement, the testable theory, the robust analysis of cause and effect that defines real science?
Drawing on practical experience and a scientific mindset, this book argues that economics has too often relied on opinion and hopeful conjecture rather than evidence-based principles. It calls for a radical shift: the adoption of formal definitions, measurable metrics, and robust models, mirroring the success of established sciences. From the elusive definition of wealth to the unscientific role of the state, this is a compelling plea to move economics beyond ideology and towards a more objective, effective, and ultimately, human-centric science.
