Objective Principles of Economics
Economists have the habit of solving the wrong problems. They speculate circumstantially about the behavior of agents and do not come to grips with the behavior of the monetary economy. This is the consequence of the methodological imperative that all explanations must run in terms of the actions and reactions of individuals. The critical point is that no way leads from the understanding of the interaction of the individuals to the understanding of the working of the economy as a whole. The solution consists in moving from subjective-behavioral axioms to objective-structural axioms, i.e. from past to future.
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- Hausman,Daniel M., 1992. "The Inexact and Separate Science of Economics," Cambridge Books, Cambridge University Press, number 9780521425230, December.
- Weintraub, E Roy, 1985. "Joan Robinson's Critique of Equilibrium: An Appraisal," American Economic Review, American Economic Association, vol. 75(2), pages 146-49, May.
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- Hausman,Daniel M., 1992. "The Inexact and Separate Science of Economics," Cambridge Books, Cambridge University Press, number 9780521415019, December.
- Mark Obrinsky, 1981. "The Profit Prophets," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 3(4), pages 491-502, July.
- Philip MIROWSKI, 1989. "The Rise and Fall of the Concept of Equilibrium in Economic Analysis," Discussion Papers (REL - Recherches Economiques de Louvain) 1989046, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Mark Blaug, 2001. "No History of Ideas, Please, We're Economists," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 145-164, Winter.
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