There are two questions here. One is whether economists have a good influence on policy. Another is whether they even understand anything. I don't have any illusions about the first question, but my interest is in understanding.
We observe that prices tend to go up, and wish to quantify that observation, maybe to test ideas about its relationship to money supply. So we have to operationalize "prices go up." We do it by sampling commonly purchased things and keeping track of their prices over time. That seems to me to be as innocuous as operationalizations come in social science. If you don't think we learn anything by doing it, I don't see how you think we can learn anything about human affairs at all.
You might object that in the details the way inflation is measured and reported is very political. I don't disagree but that's not the same thing as saying we don't know anything.
The crucial practical problem here is that attempts to tackle scientifically issues that are relevant for politics, power, and ideology are more likely to lead to the emergence of ideologically-driven pseudoscience than to a real scientific clarification of contentions issues.
That's a problem for all domains of knowledge including the hard sciences.
We observe that prices tend to go up, and wish to quantify that observation, maybe to test ideas about its relationship to money supply. So we have to operationalize "prices go up." We do it by sampling commonly purchased things and keeping track of their prices over time. That seems to me to be as innocuous as operationalizations come in social science. If you don't think we learn anything by doing it, I don't see how you think we can learn anything about human affairs at all.
Well, yes, if you just want to operationalize the vague statement t...
A Wall Street Journal article by Harvard professor of government Harvey Mansfield claims that the social sciences and humanities are inferior to the sciences. The article implicitly urges undergraduates to major in science. From the article:
Do you agree with this? As a game theorist I probably have a rather biased view of the situation. It's certainly true that the ideal of the scientific method is vastly better than the practice of economists, but I think that majoring in economics provides better training for a rationalist than majoring in any of the sciences does.
Economics explicitly considers what it means to be rational. Although it infrequently considers ways in which humans are irrational, I'm under the impression that the hard sciences never do this. Furthermore, because economists can almost never perform replicable experiments we have to rely on what everyone in the profession recognizes as messy data; therefore we’re far more equipped than hard scientists to understand the limits of using statistical inference to draw conclusions from real world situations. Although I have seen no data on this, I bet that a claim by nutritionists that they have found a strong causal link between some X and heart disease would be treated with far more skepticism by the average economist than the average hard scientist.