[PEN-L:29900] RE: RE: Re: Bushies say NAIRU is 4.9

["Devine, James" <jdevine@xxxxxxx>]

Title: RE: [PEN-L:29896] RE: Re: Bushies say NAIRU is 4.9

FWIW, the NAIRU theory does make testable propositions. Its adherents said that 6 percent unemployment (or higher) was The Line We Shouldn't Cross. The US crossed that line in the 1990s -- and the theory's prediction failed. So the NAIRUvians are changing their minds, etc. Of course, there are always dogmatists out there, some in positions of power.

JD

-----Original Message-----
From: Davies, Daniel
To: 'pen-l@xxxxxxxxxxxxxxxxxxx'
Sent: 8/27/2002 4:21 AM
Subject: [PEN-L:29896] RE: Re: Bushies say NAIRU is 4.9

>I'll admit as much as "more coherent" or "more systematic" but "more
>scientific?" That's like saying one astrologer is more scientific than
>another.

I maintain that these slurs against astrology are misplaced; the
Popperian
definition of a science is that a field of study makes testable
predictions,
and the science of astrology gives me twelve testable predictions, every
day, free with my daily newspaper.

dd

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