Considering financial policies are the de-facto social discussion around the Globe, and progress of the human species is being discussed and perceived in financial terms, it is no wonder the role of philosophy has fallen to economists.
One can hope that data-driven economics could improve predictions, but keeping the theory discussion alive is vital, if we are to ever understand our goals as something more than increasing production and consumption (quantitative).
Using the correct set of data, has long been the main issue with economic theory conflicts, and data-driven economics can only make a difference (and a huge one) if that changes.
One can hope that data-driven economics could improve predictions, but keeping the theory discussion alive is vital, if we are to ever understand our goals as something more than increasing production and consumption (quantitative).
Using the correct set of data, has long been the main issue with economic theory conflicts, and data-driven economics can only make a difference (and a huge one) if that changes.