Machine Learning vs. Econometrics, II

My last post focused on one key distinction between machine learning (ML) and econometrics (E): non-causal ML prediction vs. causal E prediction. I promised later to highlight another, even more important, distinction. I'll get there in the next post. But first let me note a key similarity. ML vs. E in terms of non-causal vs. causal prediction is really only comparing ML to "half" of E (the causal part).