The Ambiguity of Economics as a Science

One of the main arguments made against the classification of economics as a science is the absence of testable hypotheses. Underlying the challenges in the development and testing of an economic hypothesis are the often unseen and almost unlimited variables that play a crucial role in all economic trends.

The argument in opposition to categorizing economics as a science is also based on the fact that it is impossible to perform controlled experiments in laboratories. On the other hand, the field of chemistry allows scientists to test hypotheses and evaluate their results.