Monetarism

>>2107515
Economics is viewed in terms of ideology.

>>2107517
Except that's wrong.

Politicians have a range of advisers and expert economists who base their opinions on their own personal research and YES, to an extent, their own ideology but certain mathematical facts sway them from making particular decisions.

Because some people tru something or think of a form of operating an economy that works or they think will work. But, just because one economic system (like capitalism or communism) works in one situation, it does not mean it works in all situations. To simplify, people generalize their own opinions and think that their way is the best way. The reason they learn and come up with different systems is they same way new launages evolve, seperation, and who is exposed to it first.

>>2107525
>but certain mathematical facts sway them from making particular decisions.
Like how many votes do I need to get another term in office

>>2109285
How many quantitative easings will I make the chairman perform this time...?

>>2107515
monetarism isn't obsolete - many principles of monetarism are practiced in one way or another today. There's just no hardline monetarist practice because it's not the optimum way for economic growth.

All told though, I love Milton Friedman - especially his defense of capitalism and libertarian principles.

>>2107515
Economics is the study of choice.

Insofar as knowledge of the study of choice alters choice, we have an infinite regress that needs resolving before it becomes real science.

Psychology suffers the same problem and can only be cured by the same means.

Until then, we must accept a certain amount of imprecision in all conclusions.