Basic foundational "observations" by Economics aren't based on the Scientific Method.

I wish the Scientific Method didn't have "Method" in the name because while it is a sensible name it also is misleading.

Science is "method agnostic", a new promising method may uncover other methods and theories that totally pull the rug out from under old theories and methods that is a necessary and sometimes brutal aspect to scientific progress.

Economics, because it began and is sustained for the most part as a system of methods searching for justification for their continuation, is largely incapable of undergoing these necessary "method resets" that come periodically in any scientific discipline.

Chemistry can admit that atoms aren't tiny planets with electons orbiting like moons because Chemistry didn't start as the pursuit to find evidence for atoms being like solarsystems and flesh out the theory that atoms are like solarsystems.

Thus no matter if locally good science is being done in economics it is undermined by the uncomfortable need to preserve the survival of the foundatinal contextualizing methods and axioms they invoke implicitly from the truth uncovered, a vice that plagues any human endeavor consciously and subconsciously and not only keeps Economics from being a real science it also largely sucks the oxygen out of the room for actually scientifically rigorous study of these phenomena.

Alchemy is a great analog here to compare Economics too. Alchemists in the pursuit of trying to figure out how to turn things to gold did interact with and in some ways advance chemistry, but alchemy could never divest itself from its own pre-existing beliefs and methods as chemistry discovered more and more of the universe and began to accurately predict more and more of it.

If alchemy was capable discarding old methods to pursue understanding phenomena more lucidly and precisely chemistry would probably be called "alchemy" in english nowadays and alchemy would be called "pseudo-alchemy".

Economics equates to alchemy they express a desire of a system of methods, axioms and explanations to produce a certain end goal and it forms fatal shackles to the follies of the past.