ECONOMICS: HISTORY, DOCTRINE, SCIENCE, ART

JÜrg Niehans

Kyklos, 1981, vol. 34, issue 2, 165-177

Abstract: Economics tries to explain unique chains of historical events. Economic doctrines, however, are mostly pieces of logics with few references to testable propositions. However, to criticize this lack of ‘testable hypotheses’ is a misapplication of Popper's ideas. History being unique, empirical propositions in economics have to be tailored to individual cases. Economic doctrines, like a chess handbook, are a collection of prefabricated elements promising to be helpful in this task. Economic science is a process of continuous discovery and thus, like all scientific discovery, to large extent an art.

Date: 1981
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