McCloskey on Economics, Economists and Physicists

When Nobel laureate physicist Ernest Rutherford (1871 – 1937) claimed that “Physics is the only real science. The rest are just stamp collecting” he was perhaps displaying the arrogance that comes with the territory of knowing certain fundamental truths that are denied to non-physicists.

Economists too can be arrogant for similar reasons. They know something about human society that others are generally not aware of — and what’s more — are unaware of their ignorance.

It’s not a sin to be arrogant but displaying it is definitely impolite and predictably makes a person unpopular. I speak from experience. What am I going on about, you may ask. I was reading¬†Deirdre McCloskey today.¬† Continue reading