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CronoDAS comments on Schools Proliferating Without Evidence - Less Wrong
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I also have the same kind of unease about economics, especially macroeconomics. It's damn hard to run an experiment to test a hypothesis, and you have also have people running around claiming to be Austrian economists, Keynesian economists, Chicago school economists, etc.
For example: does raising the minimum wage by a few dollars an hour really increase the percentage of people who don't have a job (the sum of the unemployed and those not in the labor force)? Can you prove it?
I think it's a no-brainer that we should have taken some of the trillions of dollars we're spending on economic stimulus to study whether economic stimulus works. It would be a good investment to create a National Institute of Economics.