Once again, economics is wrongly being treated as a physical science. This a monumental error that mainstream economists just can’t (and won’t) let go of.
Economics is a deductive science. People are not like rocks, trees, or machines. Instead, we are all thinking individuals, who make choices based on our own individually chosen value scales.
Mainstream economists would rather perish than admit the obvious. There are several reasons why this is the case.
The first reason is because the government would no longer listen to them. Governments are all about grabbing power and control. They want economists who will present “models” on how to increase control. It doesn’t matter that the “models” can’t possibly do what the designers say they can do. Government doesn’t need the “models” to succeed. It just needs an excuse that it can point to, in order to act. Mainstream economists are there to provide the excuse…period.
This leads to the second reason that mainstream economists would rather die than admit the truth. There are rewards for providing excuses to the government.