Truth

Steven Rosefielde and Ralph W. Pfouts

Chapter 16 in Inclusive Economic Theory, 2014, pp 143-149 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Inclusive economics is an ambiguous synthetic social science, despite its comprehensiveness, axiomatic versatility and conceptual rigor. Like other social sciences, its powers of prediction are weak, especially in the macroeconomic domain. This is why Alexander Rosenberg dismisses idealist and realist neoclassical theoretic aspect of synthetic economic science as “mathematical politics.” Real science for him must be comprehensively falsifiable. The criterion however is too stringent. Logically sound, but weakly falsifiable neoclassical theories create weak forms of useful knowledge. They are weakly scientific and better than idle speculation…

Keywords: Inclusive Economic Theory; Satisficing; Systems; Culture (search for similar items in EconPapers)
Date: 2014
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