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Allocative processes in Economics: A template for classifying economic theories

Author

Listed:
  • María-Isabel Encinar

    (Departamento de Análisis Económico: Teoría Económica e Historia Económica. Universidad Autónoma de Madrid. Spain.)

  • Félix-Fernando Muñoz

    (Departamento de Análisis Económico: Teoría Económica e Historia Económica. Universidad Autónoma de Madrid. Spain.)

Abstract

Economic theories, regardless of their specific type or adscription to any school of thought, typically deal with processes of resource allocation (allocative processes). It is the different visions of human nature and society (and, therefore, their schemes of interaction) specific to each theory that explain the existence of different theoretical proposals. In this article, we identify some of the basic elements of all economic theory, and for classifying purposes, we propose a straightforward template that allows us to generate a taxonomy for the study of different theories. As an extension of this exercise, we also discuss the minimum conditions for a criterion of scientific progress in economic theory.

Suggested Citation

  • María-Isabel Encinar & Félix-Fernando Muñoz, 2023. "Allocative processes in Economics: A template for classifying economic theories," Revista de Economía y Finanzas (REyF), Asociación Cuadernos de Economía, vol. 1(3), pages 209-222, Septiembr.
    • Handle: RePEc:cud:journ2:v:1:y:2023:i:3:p:209-222
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    More about this item

    Keywords

    Procesos asignativos; Comparación entre diferentes teorías; Criterio de progreso científico;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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