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Zur axiomatischen Einheit von Kreislauf-,Geld-, Preis- und Verteilungstheorie
[The axiomatic unity of circuit, money, price and distribution]

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  • Kakarot-Handtke, Egmont

Abstract

This contribution to the Festschrift in memoriam of Karl Brandt and Alfred E. Ott establishes the axiomatic unity of circuit, money, price and distribution theory. From the history of economic methodology and from actual practice follows: one cannot not axiomatize. The crucial question is not axiomatization per se but the real world content of axioms which is not guaranteed by simply applying the method. Axioms can be empirically vacuous. This holds for the behavioral axioms of standard economics. In marked contrast, all structural axiomatic variables are measurable in principle. No metaphysical concepts like equilibrium are put into the premises.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2012. "Zur axiomatischen Einheit von Kreislauf-,Geld-, Preis- und Verteilungstheorie [The axiomatic unity of circuit, money, price and distribution]," MPRA Paper 44313, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:44313
    as

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    References listed on IDEAS

    as
    1. Kakarot-Handtke, Egmont, 2011. "Keynes’s missing axioms," MPRA Paper 32742, University Library of Munich, Germany, revised 11 Aug 2011.
    2. Hollander, Samuel, 1977. "Adam Smith and the Self-Interest Axiom," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 133-152, April.
    3. Chick, Victoria, 1998. "On Knowing One's Place: The Role of Formalism in Economics," Economic Journal, Royal Economic Society, vol. 108(451), pages 1859-1869, November.
    4. Paul Davidson, 2002. "Financial Markets, Money and the Real World," Books, Edward Elgar Publishing, number 2467.
    5. T.A. Boylan & P.F. O'Gorman, 2007. "Axiomatization And Formalism In Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 426-446, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    new framework of concepts; structure-centric; axiom set; formal core; axiom of reals; real shares of output; spending pattern;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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