Is Economics a Pseudo-Science?

[Gustaf]

Most of the people questioning economics here seem to have a very limited idea of what it really is. For instance, externalities such as environmental concerns are adressed by most basic textbooks in economics. As Bono points out, there is no assumption in economics such as that people are always greedy. The concept of rationality simply means that one prefers better to worse. It should be noted that many "exact" sciences aren't entirely exact either. Many examples and laws in physics are simplifications where factors that can be disregarded are. Exactness is simply a function of the complexity of the matter at hand  - the more complex it is the harder it will be to be exact.

[Gustaf]

The main reason why people think economics is not a science is simply that they don't think it's a science. That is, because they don't think it is a science they think their own opinions on the matter are about as valid as those of experts. And because of that they think there are many different equally valid opinions on the subject. And because of that they conclude that it isn't a real science. Actual economic science is quite scientific and quite a bit removed from what most people consider when they talk about it.