Pseudoscience

Pseudoscience is a claim, belief, or practice which is presented as scientific, but does not adhere to a valid scientific method, lacks supporting evidence or plausibility, cannot be reliably tested, or otherwise lacks scientific status. Pseudoscience is often characterized by the use of vague, exaggerated or unprovable claims, an over-reliance on confirmation rather than rigorous attempts at refutation, a lack of openness to evaluation by other experts, and a general absence of systematic processes to rationally develop theories.

David Gordon notes, "In human affairs, we are not given precisely defined variables that can be measured: to talk of verifying a hypothesis, as if some law of science were at stake, leads nowhere." Ludwig von Mises addresses the issue of pseudo-science in The Free Market and Its Enemies: Pseudo-Science, Socialism, and Inflation.