The Law of Supply and Demand: An Example of Pseudoscience?

By KP Mohanan

The Law of Supply and Demand: An Example of Pseudoscience?

By KP Mohanan

I do not have a degree in economics, and I have not taken courses in economics. However, as a trans-disciplinary academic, I believe that the law of supply and demand in economics does not meet the norms of laws in scientific inquiry. I would like to share with you the reasons for this position, with the hope that those who understand economics better than I do will correct me if my understanding is flawed. If I am not corrected, I will conclude that the law of supply and demand is an example of pseudoscience.

You can read the complete note here

 

Photo by Dominik Lückmann on Unsplash


 


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