Economic Theology

The practice of placing faith in an economic doctrine solely on the basis that it aligns with your political dogma. This holds especially true for economic doctrine that is refuted by empirical evidence to the contrary, or otherwise relies on intangible evidence as a basis for speculation.

1. As a popular economic theology, voodoo economics has shown otherwise, to permanently reduce GDP potential.

2. Though Libertarians embraced austerity as a means to grow the economy, it turns out that austerity was nothing more than economic theology.

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