Ep. 129: The Science of Economics


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The science of economics can often be misunderstood. Economics as a discipline is riddled with paradoxes. We often want economics to be able to predict the next crisis, while dismissing sound economic insights that may be a century old.

Where is the science in economics? How much of the discipline is experimentation, and how much is careful observation of the world?

Economist Ajay Shah is on Episode 129 of The Pragati Podcast to talk to Pavan Srinath about the dismal science of economics.

The Pragati Podcast is a weekly talkshow on public policy, economics and international relations hosted by Pavan Srinath.

Ajay Shah is a Professor at the National Institute of Public Finance and Policy in New Delhi. He is a popular columnist, a frequent blogger, and has recently authored In Service of The Republic: The Art and Science of Economic Policy along with Vijay Kelkar.

Also check out:
The Seen and the Unseen #154: The Art and Science of Economy Policy with Ajay Shah and Vijay Kelkar. https://www.thinkpragati.com/podcast/the-seen-and-the-unseen/8374/the-art-and-science-of-economic-policy/

What is Wrong With Economics? https://blog.theleapjournal.org/2011/02/what-is-wrong-with-economics.html

The Problem With the Economics Profession. https://blog.theleapjournal.org/2012/12/the-problems-of-economics-profession.html

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146 episodes