Nowadays, economic research has become increasingly founded on empirical work and data science, along with the increase in computing power, spread of the Internet, accumulation of and increase in data, and development of econometric techniques (Hamermesh [2013]; Angrist et al. [2017], Chart 3).
Data science methodology has been adopted actively not only in economics, but also in social sciences in general and in some fields of humanities. Through the sharing of methodologies, interaction of economics with other fields of study is being accelerated. This is not to say that economic theory has become extinct, however.