In closing, I would like to quote Paul Romer, a pioneer of endogenous growth theory, from his much cited paper “The Trouble with Macroeconomics”:3 “Even when it works well, science is not perfect….Scientists commit to the pursuit of truth even though they realise that absolute truth is never revealed.
All they can hope for is a consensus that establishes the truth of an assertion in the same loose sense that the stock market establishes the value of a firm. It can go astray, perhaps for long stretches of time.