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read some reader articles that are skeptical of economic theory, what are your reactions to these...

read some reader articles that are skeptical of economic theory, what are your reactions to these criticisms of theory? Are they impressive, unconvincing, thought-provoking, or horrifying? Or what? Give your reaction, whatever it may be, just be sure to back it up with some reasoning.

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The article on Bloomberg "Beware of economic theories claiming to explain everything" rightly describes macroeconomic theory as being too complex and not science, that it has a set number of formulas to get the conclusion. Everything is related which makes it hard to repeat what one might have experienced in history. Thus these articles are very thought provoking as one gets to know that not all conclusions derived by economists are full proof, there are many limitations because of assumptions which might go wrong and one theory working in some limited dataset of a country but not in other. This shows that economic theories are not set of guidelines, they can be interpreted and understood in different ways and more advanced concepts and conclusions could be reached after tweaking a certain aspect.

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