Foundations of the Science of Economics

By Ron Lenk

Foundations of the Science of Economics begins the process of making Macroeconomics into a Science. Data is analyzed, the best Models are selected using a new Information Criterion, Hypotheses are formed and tested on the data…and then predictions are made. To the extent the predictions are verified, Hypotheses become Theories and Economics will finally be a Science. The data analyzed in this way includes Population, Technology, Warfare and events such as epidemics or climate change, GDP and Income and others. The Models found are then used to formulate and verify two Laws of Economics. The book includes introductory material on the methods of Science and some mathematical background. Extensive details are presented throughout. 502pp