China has also not suffered a Japan style economic crash, even though The Economist has regularly predicted it would happen since the early 90s. Even though this is an economic anomaly that has to do with a very large percentage of the earth's population, somehow this development has escaped triggering any serious curiosity in western economics circles.
This lack of serious inquiry in the face of enormous empirical evidence that contradicts theory is what makes Economics a dying field.
This lack of serious inquiry in the face of enormous empirical evidence that contradicts theory is what makes Economics a dying field.