What, besides the bias toward a particular, desired result, is wrong with the science? Scientific progress proceeds by the interplay of theory and observation. Theory explains observations and makes predictions about what will be observed in the future. Observations anchor our understanding and weed out the theories that do not work. This has been the scientific method for more than three hundred years. Recently, the advent of the computer has made possible another branch of inquiry: computer simulation models. Properly used, computer models can enhance and speed up scientific progress. But they are not meant to replace theory and observation and to serve as an authority of their own. We know they fail in economics.

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Excellente synthèse des problèmes liés à la controverse actuelle.