Objective Principles of Economics

Egmont Kakarot-Handtke ()

MPRA Paper from University Library of Munich, Germany

Abstract: 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.

Keywords: new framework of concepts; structure-centric; axiom set; methodology; complex adaptive system; profit (search for similar items in EconPapers)
JEL-codes: B59 D01 D50 (search for similar items in EconPapers)
Date: 2014-04-03
New Economics Papers: this item is included in nep-ger, nep-hme and nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:55031

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