Mises Wire
Author:
Frank Shostak
Online Publish Date:
It is a common belief that sound economics must be based on facts and not on theoretical reasoning as such. Some commentators are dismissive of economic analysis that is not derived from the true data, since it is not describing as indicative of a strengthening of the economy. Conversely, a decline in the growth rate is regarded as a weakening of the economy. It seems that by looking at