by Mark Dempsey
Unfortunately, conventional economics is bunk. To explain that statement, I've conducted a CSUS Renaissance (senior education) Zoom class recently that goes into some detail about why conventional economics gives intellectual respectability to some of the worst human impulses, and to discuss what realistic alternatives exist.
Economics itself is a social science whose scope spans everything from psychology to mathematics, so it's pretty comprehensive, and is often the justification for public policies we currently enjoy.
My Economics class:Update:
Between 1974 and 2014, only 0.1% of publications in the top 50 economics journals were replication studies.
— Anup Malani (@anup_malani) February 14, 2026
That's 40 years. Thousands of papers. Almost none replicated.
We've built careers on findings no one has verified.
When economists finally replicate studies, 40-67% fail…
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