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On Economics as a World View

Author

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  • Bingyuan Hsiung

    (Professor, Department of Economics, National Taiwan University, Taipei, Taiwan; E-mail address: hsiung@ntu.edu.tw)

Abstract

Stigler (1965) argued that economists can provide policy-makers with sound policy recommendations, so that the efficiency of resource utilization can be improved. But a more fundamental way to improve the efficiency of resource utilization is to enable the general public to think like an economist . To achieve this aim, however, the way of thinking as implied by economics must be identified first; this paper discusses the particular perspective of economics. The idea of a spectrum is used to discuss various ways of defining economics. Then, it is argued that the concept of cost and a benchmark constitute a basic perspective of economics, or the economic world view. Finally, practical steps to relate this world view to the general public are suggested. JEL classification: All, A20, B20, B41.

Suggested Citation

  • Bingyuan Hsiung, 2006. "On Economics as a World View," Journal of Interdisciplinary Economics, , vol. 17(4), pages 425-443, July.
    • Handle: RePEc:sae:jinter:v:17:y:2006:i:4:p:425-443
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    More about this item

    Keywords

    cost; choice; world view; economics; Coase;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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