Like virtually everything else in life integrating the abstract and the the dynamic observation of the moment will yield more enlightenment of truth than merely one of those two modes of thinking/experiencing.

Whoring only after math, statistics and abstraction is one of the reasons economists for the last century have missed the direct observation of the entirety of the economic/productive process itself and hence not cognited on the potentially incredible leveraging power to be utilized at its terminal ending point where a simple accounting and algebraic operation regarding monetary policy could simultaneously resolve the two most troublesome problems of modern economies (that all heterodox economists agree upon by the way), namely individual monetary scarcity and chronic asset inflation.

Economies are very complex, but the actual operations of historical paradigm changes are always quite simple. Economists need to look at that fact and act….not merely go on a stupendous figure, figure, figure with math and/or abstract theoretics.