Objective Principles of Economics
AbstractEconomists have the habit of solving the wrong problems. They speculate circumstantially about the behavior of agents and do not come to grips with the behavior of the monetary economy. This is the consequence of the methodological imperative that all explanations must run in terms of the actions and reactions of individuals. The critical point is that no way leads from the understanding of the interaction of the individuals to the understanding of the working of the economy as a whole. The solution consists in moving from subjective-behavioral axioms to objective-structural axioms, i.e. from past to future.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 55031.
Date of creation: 03 Apr 2014
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new framework of concepts; structure-centric; axiom set; methodology; complex adaptive system; profit;
Find related papers by JEL classification:
- B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-04-11 (All new papers)
- NEP-GER-2014-04-11 (German Papers)
- NEP-HME-2014-04-11 (Heterodox Microeconomics)
- NEP-HPE-2014-04-11 (History & Philosophy of Economics)
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