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How the Intelligent Non-Economist can Refute Every Economist Hands Down

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  • Kakarot-Handtke, Egmont

Abstract

Most non-economists tend to think that economists know what they are talking about when they use specific terms like income, profit, capital, market equilibrium, and so on. This is not the case. What, then, follows from the well-documented fact that the representative economist has no idea of what profit is? Quite simple: if the core concept profit is false then the whole economic theory/model is false. This holds for the Walrasian, the Keynesian, the Marxian, and the Austrian approach.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2016. "How the Intelligent Non-Economist can Refute Every Economist Hands Down," MPRA Paper 69581, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:69581
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    File URL: https://mpra.ub.uni-muenchen.de/69581/1/MPRA_paper_68934.pdf
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    References listed on IDEAS

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    1. Kakarot-Handtke, Egmont, 2015. "Major Defects of the Market Economy," MPRA Paper 65666, University Library of Munich, Germany.
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      Keywords

      new framework of concepts; structure-centric; price mechanism; profit mechanism;
      All these keywords.

      JEL classification:

      • B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
      • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other

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