Kind of both. The science of economics is full of models with false assumptions and self fulfilling prophecies. Economy exists because we believe it does and because of said self fulfilling prophecies
Economy exists not because we believe it does, but because we agreed to follow particular rules, many of which are enforced by state. It is emergent phenomenon. But it does not make it any less real than any other emergent phenomenon, like air pressure.
Are you talking about the science of economics or economy?
Kind of both. The science of economics is full of models with false assumptions and self fulfilling prophecies. Economy exists because we believe it does and because of said self fulfilling prophecies
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Economy exists not because we believe it does, but because we agreed to follow particular rules, many of which are enforced by state. It is emergent phenomenon. But it does not make it any less real than any other emergent phenomenon, like air pressure.