@til Today I learned that the Austrian School of Economics, on which our current economic models are based, is not itself based on empiricism and in fact argues that it should not be based on empiric studies at all but on thought experiments. https://en.wikipedia.org/wiki/Praxeology#Austrian_economics
To clarify, I’m not saying that this proves correctness of a particular economic theory, more that your (probably?) implied claim that pandemic money printing didn’t have a big negative impact on the value of the dollar is very much not self-evident given how things went.