Cloud Cuckoo Land
An ideal world where there is a precise correspondence between theory and reality. The world in which economc science functions perfectly.
Somewhere in space, far away from all disturbances, let us imagine a tiny red dwarf, precisely spherical in shape. An exactly spherical planet revolves around the red dwarf in an exactly circular orbit. A small mass, a low rotational speed: even after 10 billion years of observation with the best measuring instruments one wouldn't be able to find a difference between Copernicus, the equations of Newton and Einstein's general relativity equations.
But astronomy didn't need this. Astronomy always took up the challenges set by the new measurements and continually came up with new answers. Even if the deviation between theory and observed reality was only 43 arcseconds, persistent efforts were made over decades to explain this comprehensively, until general relativity theory finally provided the solution.
Once upon a time there were similarities betwen the economic system in Cloud Cuckoo Land and planet Earth. But this was still a very small economy. The more it grew, the greater the differences became. Meanwhile the differences have become exceedingly large, and have plunged the USA and the EU into a debt crisis.
Sinking standards of living despite more than 100 yeras of technical progress and greatly increased productivity. Why?
In astronomy there are examples where in solar systems with ever greater mass and orbits with greater velocity, the discrepancies in the calculations according to Newton and Einstein became ever greater. Just as the most highly developed national economies of the USA and the EU are most strongly affected by the false calculations of the economic scientists.