Economics fails to be a science for three fundamental reasons: Indeterminacy, Multiplicity and Non-verifiabilty. The first weakness, Indeterminacy, refers to the well-established fact that practically all economic models fail to provide unambiguous theoretical predictions, hence theory does not...

Mathematics has become an integral part of 20th century economics. Mathematical techniques that were considered to be on the fringes of economics even a few decades ago are today considered mainstream economics. Economists presented considerable resistance in the past to the encroachment of...