DDHv wrote:The closest I know at present to hard economics is the Austrian school of economics. Does anyone know another school that is doing better at predicting
Funny, that. Seeing how the Austrian school eschews rigorous modelling and empiricism in favour of trying to fit observed realities into a predetermined model.
When deciding whether any theory is correct, it is useful to look at is its predictive success. The ID theorists predicted that most or all of the "junk DNA" is functional, except for mutations.
It is interesting to me how almost every post you make in this thread shows your ignorance of what certain results and terms mean.
Let's have a round of definitions! What is "Junk DNA"? Simply put, all DNA that is not used as part of an intracellular process. In public parlance, "junk DNA" is actually a conflation of two distinct terms used in the literature. In it, "Junk DNA" refers only to DNA which doesn't code for any proteins and doesn't exist as part of the DNA molecule's structure. There's a distinct term, "non-coding DNA", for DNA which doesn't code for a protein but fulfills other purposes.
Now, whether or not a particular piece of the genome is "junk DNA" is obviously hard to determine. As our knowledge of intracellular processes increases, our estimation of what is and isn't junk changes; To claim that "ID theorists predicted this" is a rhetorical red herring. Go through the relevant literature, and try to find statements by non-ID people that would contradict them; everyone involved in genome research knows that we haven't managed to completely sort the junk from the actually relevant bits.
There's also some criticism to be made regarding the methodology the ENCODE project uses: Their definition of "functional" DNA is much wider than what mainstream genetic science is using, this should be taken into account when interpreting their results.
(Recommended reading:
http://www.genomicron.evolverzone.com/2013/04/critiques-of-encode-in-peer-reviewed-journals/,
https://sandwalk.blogspot.de/2011/10/myth-of-junk-dna-by-jonathan-wells.html)
The "chance and time" people predicted that most of it is not functional. AFAICS, their argument is circular.
See: Graur, D. et al. 2013. On the immortality of television sets: "function" in the human genome according to the evolution-free gospel of ENCODE. Genome Biology and Evolution.
Have you actually read that paper? One of its conclusions is that ENCODE's definition of functionality is misleading in that it assigns functionality to any piece of DNA that
could have a function (as in, code for a protein etc), regardless of whether or not this actually happens in a live organism.
Also, consider this excerpt from the paper:
We urge biologists not be afraid of junk DNA. The only people that should be afraid are those claiming that natural processes are insufficient to explain life and that evolutionary theory should be supplemented or supplanted by an intelligent designer (Dembski 1998; Wells 2004). ENCODE’s take-home message that everything has a function implies purpose, and purpose is the only thing that evolution cannot provide. Needless to say, in light of our investigation of the ENCODE publication, it is safe to state that the news concerning the death of “junk DNA” has been greatly exaggerated.
ENCODE also displayed a remarkably cavalier attitude towards the results:
Actually, the ENCODE authors could have chosen any of a number of arbitrary percentages as “functional,” and … they did! In their scientific publications, ENCODE promoted the idea that 80% of the human genome was functional. The scientific commentators followed, and proclaimed that at least 80% of the genome is “active and needed” (Kolata 2012). Subsequently, one of the lead authors of ENCODE admitted that the press conference mislead people by claiming that 80% of our genome was “essential and useful.” He put that number at 40% (Gregory 2012), although another lead author reduced the fraction of the genome that is devoted to function to merely 20% (Hall 2012). Interestingly, even when a lead author of ENCODE reduced the functional genomic fraction to 20%, he continued to insist that the term “junk DNA” needs “to be totally expunged from the lexicon,” inventing a new arithmetic according to which 20% > 80%. In its synopsis of the year 2012, the journal Nature adopted the more modest estimate, and summarized the findings of ENCODE by stating that “at least 20% of the genome can influence gene expression” (Van Noorden 2012). Science stuck to its maximalist guns, and its summary of 2012 repeated the claim that the “functional portion” of the human genome equals 80% (Anonymous 2012). Unfortunately, neither 80% nor 20% are based on actual evidence.
This is not exactly filling me with confidence that ENCODE is on to a winner here.
Experiments are evidence; theory is not, but can only suggest possible experiments.

Is this a good test, and if not, why not

You are using the word Theory wrong, again.
A Theory is a Hypothesis that has been confirmed experimentally. Therefore, a theory is as strong as the amount of evidence produced for or against it through experiments or observation; Witness the lack of experimental verification of creationist claims and judge for yourself whether or not the proponents of that hypothesis are worth taking seriously.