Reply To: Your opinion on Econometrics

[jmherbener]

I’m saying that the burden of proof is on the proponent of statistical analysis. He must demonstrate that Mises’s criticisms are incorrect and that statistical analysis of the data of human action renders better understanding of historical events than what Mises called specific understanding. On the latter, look at Mises’s Theory and History:

http://library.mises.org/books/Ludwig%20von%20Mises/Theory%20and%20History%20An%20Interpretation%20of%20Social%20and%20Economic%20Evolution.pdf