Is There Such a Thing as Economic Science?

Scottish Enlightenment philosopher Adam Smith defined what was then called political economy as "an inquiry into the nature and causes of the wealth of nations". Can such an inquiry be conducted the scientific way, and yield more than mere opinions, or mathematical models that are empirically worthless? And what - if any- scientific value does economics have to offer?

As always, no prior knowledge is assumed, but if you'd like get some food for thought in advance, just read page 68 of Guenter Reimann's The Vampire Economy and you will at once be involved in the whole universe of economics. For those who do have some prior knowledge of basic economics, this video on experimental economics might be interesting.

This seminar is entirely free of charge, but everyone should purchase a drink or snack from our host. Please note that Café Ajenjo accepts only cash!