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To: Ilaine who wrote (235)4/27/2001 10:44:00 AM
From: Don Lloyd  Read Replies (1) of 443
 
CB -

I wasn't talking about predicting the future, I was talking about explaining the past. You're right, you can't predict the economic future without using theory.

To the extent that you can dig up 'facts' from the past, limited to the reported subset that exists, I am willing to agree that you can describe the past. However, to explain the past you need a series of falsifiable theories to relate the 'facts' to one another.

Regards, Don
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