And can we ignore people in economy, reducing it to number and statistics?
Statistics based on small time frames considering the grand scheme of things.
After all in the end, the economy is work done by everyone of us and represented by an easy to trade "token" that we then can exchange to obtain things/services created by others work.
Because we can look at whatever charts, create correlations, draw trend lines, etc, but in the end if there is no creation of something of value for the individual, the value of something is 0, and you don't need a trend line for that, although it helps you if you want to enter a bubble and exit with a profit based on someone else losses, like the dotcoms.
And when I listen to major representatives of some economic schools saying that what we need is "a fake alien invasion" to sort all of our problems, I wonder which universities are actually third rate and who is a loony.