Could it be that economics is more of a social science than a physical one, and therefore its “laws” cannot be expected to have the same level of stringency and consistency as the laws of physics?
Whats even funnier is that physics is also vibes based in some areas. The laws of thermodynamics are not real laws, they are based on statistic likelihood but can in theory be broken.
Newtons equations for gravity are still widely used despite being disproven for better part of a century.
Sometimes, accurate enough approximations are more useful than the complicated reality.
Could it be that economics is more of a social science than a physical one, and therefore its “laws” cannot be expected to have the same level of stringency and consistency as the laws of physics?
No, it’s economics that’s wrong.
Whats even funnier is that physics is also vibes based in some areas. The laws of thermodynamics are not real laws, they are based on statistic likelihood but can in theory be broken.
Newtons equations for gravity are still widely used despite being disproven for better part of a century.
Sometimes, accurate enough approximations are more useful than the complicated reality.