Sure, an economic analysis of different global warming policies will predict whether how good of a job they do of avoiding global warming costs (say cap-and-trade vs. some particular geoengineering policy). A theoretical understanding of different monetary policy regimes will help you predict which ones will lead to fewer recessions. A theoretical understanding of different tariff policies will help you predict what policies will lead to higher welfare.
If your point is that you aren’t interested enough, then obviously you’re entitled to that, but then I don’t see why you made the original post.
Even in the specific case you cite, there is a truth to the matter and it has real world consequences.
Incidentally, I Silas Barta and/or I will hopefully eventually post to LW on that very topic (monetary economics).
everything has real world consequences. do you have any useful predictions?
Sure, an economic analysis of different global warming policies will predict whether how good of a job they do of avoiding global warming costs (say cap-and-trade vs. some particular geoengineering policy). A theoretical understanding of different monetary policy regimes will help you predict which ones will lead to fewer recessions. A theoretical understanding of different tariff policies will help you predict what policies will lead to higher welfare.
people who devote their lives to those topics don’t seem to be making useful quantitative predictions about them. I don’t think I can do any better.