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The Economic Approach to Science

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  • Marek Loužek

Abstract

The paper poses the question whether the economics of science could be the key to economic methodology. First, the sociology of science, which tries to put science in social context, is described. Then, the economic approach to science inspired by Bartley, Wible, Tullock, Stigler and Becker is explained. We point out that knowledge originates in the competitive process of scientific criticism in similar way as economic wealth originates in the competitive market process and the competition among many individuals.

Suggested Citation

  • Marek Loužek, 2016. "The Economic Approach to Science," Prague Economic Papers, Prague University of Economics and Business, vol. 2016(4), pages 494-506.
    • Handle: RePEc:prg:jnlpep:v:2016:y:2016:i:4:id:571:p:494-506
    DOI: 10.18267/j.pep.571
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    More about this item

    Keywords

    sociology of science; philosophy of science; economics of science;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

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