Confused confusers. How to stop thinking like an economist and start thinking like a scientist

Egmont Kakarot-Handtke ()

MPRA Paper from University Library of Munich, Germany

Abstract: 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.

Keywords: new framework of concepts; structure-centric; axiom set; objectivestructural; income; profit; General Complementarity; subjective-behavioral; methodological individualism; opus magnum (search for similar items in EconPapers)
JEL-codes: A11 B41 D00 E00 (search for similar items in EconPapers)
Date: 2013-01-28
New Economics Papers: this item is included in nep-hpe and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:44046

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