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The dilemma explanation-understanding in economic science

Author

Listed:
  • Albio Márquez

    (Universidad Nacional Experimental de los Llanos Occidentales Ezequiel Zamora. Vicerrectorado de Planificación y Desarrollo Social (VPDS). Barinas, Venezuela.)

Abstract

In economic science has always been present the dilemma explanation-understanding. For some schools and trends of economic thought the reality is formed by domains of observables, calculablesor thinkable objects that are enough to know through the explanatory model; and by domains of experiences or intuitables objects that require to be addressed by the interpretative model. In this article, using the critical analysis of epistemological and hermeneutical discourse, arguments are made against this exclusionary perspective and in favor of a process of interpretation, which under the principle of complementarily, would lead to the use of both models in a same domain and thus achieve a better approximation to the truth of the economic reality.

Suggested Citation

  • Albio Márquez, 2015. "The dilemma explanation-understanding in economic science," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 40(39), pages 153-175, January-J.
    • Handle: RePEc:ula:econom:v:40:y:2015:i:39:p:153-175
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    More about this item

    Keywords

    Dilemma explanation-understanding; explanatory model; interpretative model; hermeneutical arc.;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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