As a non-academic economist, I don't feel any pressure to pretend to be a scientist. (Making money to my clients is enough to fulfil my ambitions.) Thus, I can enjoy the priceless comfort to laugh at the plight of my academic colleagues. This is one entry, which is going to appear in my Dictionary:
An unhappy feeling common among economists when they compare their own discipline to the natural sciences.
NOTABLE & QUOTABLE
“Economists want to be taken seriously and so have to clutter up their work with complex equations no one reads or cares about so that no one will mistake them for sociologists.”
(Anonymous commenter at marginalrevolution.com)
“It’s hard to overstate how few solid conclusions have emerged out of a century of macroeconomic research. We don’t even have a good grasp of what causes recessions.”
(Noah Smith, assistant professor of finance, Stony Brook University)
Well, Noah, read Hayek and Mises. It's there.
Next time, I'll discuss the word schadenfreude, another item in my Dictionary.