Economics functions as conflict over belief rather than objective science

Evidence

Unlike Physics Nobel Laureates, who always respect (even if they do not like) each other, two winners of the equivalent economics honour (the Bank of Sweden’s Prize for Economics in the Memory of Alfred Nobel) often consider each other to be charlatans. That’s because economics is more like a philosophy (or religion) embellished with complex equations and voluminous statistics offering those who speak its language huge power over the rest who do not. Economics is best seen as a contested terrain on which armies of politically motivated ideas (some favouring the ruling class, others the exploited classes) clash mercilessly to win over our hearts and minds. — Yanis Varoufakis, Technofeudalism, 779

Categorization

• SEED: A possible essay: economics-as-religion comparison, and what it means that the field’s internal conflicts are what the public should treat as evidence of its non-scientific status.
• XREF: Relates to Marxist critiques that economic theory is ideology, and to the standing analysis of how evaluative languages carry power. — connects to: Economic theories encode rival justifications for who should receive resources — Mark Blyth, Austerity: The History of a Dangerous…, 121; Friedman claimed positive economics could resolve policy disputes by eliminating value differences — Angus Burgin, The Great Persuasion: Reinventing Free…, 405; Economics has been flooded with physics-derived saviors, not starved of science — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 480 (+11 more)
• corroborated: 2 independent passages support this claim — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 779

Broader Connections

• Friedman’s positive-normative economics boundary cannot be trusted at face value #expands (0.85) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1620
• Economics actively shapes the economy rather than merely describing it #expands (0.85) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1987