Question: The book contrasts scientific and engineering models. Loosely speaking, a model is scientific if it is designed to understand how the economy works in the
The book contrasts scientific and engineering models. Loosely speaking, a model is "scientific" if it is designed to understand how the economy works in the abstract, while engineering models are those that are designed to capture how the economy works in practice, even though we don't really understand why. Which do you think is more important?
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