Are Economists Social Scientists?

Villy Bergström

Chapter 7 in Growth, Employment and Inflation, 1999, pp 88-99 from Palgrave Macmillan

Abstract: Abstract The strength of economics, as well as its weakness, is its hard theoretical core. The theoretical core of economics is basically a theory of self-interest. Mainstream economic theory uses as its main instrument the principle of maximization. Individuals or households are assumed to maximize their ‘utility’, while firms are assumed to maximize their profit or the value of the firm in the portfolios of its owners.

Keywords: Fiscal Policy; Political Ideology; Full Employment; European Monetary Union; Social Relevance (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1007/978-1-349-27393-5_7

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