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If you can come up with a scientifically falsifiable theory on the effectiveness of government regulation, there’s a Nobel Prize waiting for you. It’s hard for a lot of reasons, including that it’s almost impossible to create a true test and control treatment.

Macroeconomic theory relies on a lot of spherical cows. In theory I don’t disagree with you, but in practice we don’t have the tools (yet) to do this type of economics in a scientific/falsifiable way.

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