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The Need for Accuracy

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  • Gheorghe BAILESTEANU

    (West University of Timişoara, Faculty of Economics and Business Administration, Romania)

Abstract

Understanding the economic phenomena and procedures based on „common sense” is insufficient in the age of knowledge society, when the NEED FOR ACCURACY is not only a must, but also indispensable. Still, the need for accuracy involves THE HYPOTHESIS NEED IN BUILDING SCIENTIFIC THEORIES. There are certain conditions of constructivism and functioning of hypotheses, and considering them gives them a “status” in science. Coherence is the fundamental criteria of plausibility and credibility of hypotheses. A hypothetic construction should not contain internal dysfunctions, i.e. incompatible postulates or difficult to set up with one another.

Suggested Citation

  • Gheorghe BAILESTEANU, 2008. "The Need for Accuracy," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 1(4), pages 365-368.
    • Handle: RePEc:wun:journl:tje:v01:y2008:i04:a06
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