Confused confusers. How to stop thinking like an economist and start thinking like a scientist
AbstractThe present paper takes it as an indisputable fact that subjective-behavioral thinking leads, for deeper methodological reasons, with inner necessity to inconclusive filibustering about the agents’ economic conduct and therefore has to be replaced by something fundamentally different. The key argument runs as follows: (a) the subjective-behavioral approach can not, as a matter of principle, afford a correct profit theory, (b) without a correct profit theory it is impossible to comprehend how the monetary economy works, (c) without this knowledge economic policy proposals are unjustifiable, (d) thinking like an economist may be hazardous to the economy.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 44046.
Date of creation: 28 Jan 2013
Date of revision:
new framework of concepts; structure-centric; axiom set; objectivestructural; income; profit; General Complementarity; subjective-behavioral; methodological individualism; opus magnum;
Find related papers by JEL classification:
- E00 - Macroeconomics and Monetary Economics - - General - - - General
- D00 - Microeconomics - - General - - - General
- A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-03 (All new papers)
- NEP-HPE-2013-02-03 (History & Philosophy of Economics)
- NEP-MAC-2013-02-03 (Macroeconomics)
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