Quote:
Originally Posted by White Fox
Economics is not an abstract science, and requires an understanding of the choices that people make, which relies on human nature. History gives an understanding of both the choices people make in a given situation, and therefore gives us insight into human nature. This is directly related to economics and cannot be ignored when discussing it.
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It is however important to note the ways in which economists rarely agree and even more rarely predict anything accurately.
Economics is as problematic as any social science. But many in economics continue to pretend that it's akin to physics.
I don't see how you can claim it not to be abstract.
History is not a science at all. It tends to give some understanding but not without being placed in context. Too many mistakes are made by generalizing history and attempting to use it as a predictor of the future.