Confused confusers. How to stop thinking like an economist and start thinking like a scientist
The present paper takes it as an indisputable fact that subjective-behavioral thinking leads, for deeper methodological reasons, with inner necessity to inconclusive filibustering about the agents’ economic conduct and therefore has to be replaced by something fundamentally different. The key argument runs as follows: (a) the subjective-behavioral approach can not, as a matter of principle, afford a correct profit theory, (b) without a correct profit theory it is impossible to comprehend how the monetary economy works, (c) without this knowledge economic policy proposals are unjustifiable, (d) thinking like an economist may be hazardous to the economy.
|Date of creation:||28 Jan 2013|
|Date of revision:|
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- Egmont Kakarot-Handtke, 2012.
"Primary and Secondary Markets,"
Economics Working Paper Archive
wp_741, Levy Economics Institute.
- Laidler,David, 1999.
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"Reconstructing the Quantity Theory (II),"
32542, University Library of Munich, Germany.
- Kakarot-Handtke, Egmont, 2011. "Squaring the investment cycle," MPRA Paper 32895, University Library of Munich, Germany.
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