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Frank Knight's 'categories' and the definition of economics

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  • John Hart

Abstract

In an attempt to combat the positivist view that the only legitimate way to conduct social science is in the manner of a natural science, Knight distinguished between positivist and non-positivist categories or levels of interpretation of human-social subject matter. Since each of the categories contained 'a large element of truth', Knight argued that any serious analysis would need to embrace a pluralist approach. In this paper I draw on four separate accounts he gave (in 1934, 1940, 1941, and 1942) of these categories in order to arrive at a more complete statement. This fuller description will hopefully promote a deeper appreciation of Knight's emphasis on the need for adopting a pluralist approach to the subject matter of economics. I then apply the perspective of the categories to shed light on Knight's definition of economics and his criticism of Robbins' definition.

Suggested Citation

  • John Hart, 2014. "Frank Knight's 'categories' and the definition of economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 21(3), pages 290-307, September.
    • Handle: RePEc:taf:jecmet:v:21:y:2014:i:3:p:290-307
    DOI: 10.1080/1350178X.2014.946530
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