Science!

That's why I love bloody science. Never out of words for a cooool statement. Well, for whatever it's worth. But yet - the scientific model! Ka-woom! Where it applies (i.e. doesn't get lost due to its self-inflicted shortcomings, in physics as well as in psychology), it's great stuff.

Compared with physics, it seems fair to say that the quantitative success of the economic sciences has been disappointing. Rockets fly to the Moon; energy is extracted from minute changes of atomic mass. What is the flagship achievement of economics? Only its recurrent inability to predict and avert crises, including the current worldwide credit crunch.

[From the essay. Courtesy of Nature.]

And, by the way: That's exactly my take on economics, too. Although I'd put it less modest: Economics are bullshit. These guys need some serious, sound psychological knowledge at least! Period.