Why Economics Should Be a Modest and Reasonable Science
Unlike the methodological sciences, such as mathematics and decision theory, which use the hypothetical-deductive method and may be fully expressed in complex mathematical models because their only truth criterion is logical consistency; the substantive sciences that have as their truth criterion the correspondence to reality, adopt an empirical-deductive method, and are supposed to generalize from often unreliable regularities and tendencies. Given this assumption, it is very difficult for economists to predict economic behavior, particularly major financial crises.
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- Bresser-Pereira, Luiz Carlos (Luiz Carlos Bresser), 2011. "Structuralist macroeconomics and new developmentalism," Textos para discussão 298, Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
- A.L. Keith Acheson, 2010. "Globalization," Carleton Economic Papers 10-01, Carleton University, Department of Economics.
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- repec:cup:cbooks:9780521144537 is not listed on IDEAS
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