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Allocative processes in Economics: A template for classifying economic theories

María-Isabel Encinar and Félix-Fernando Muñoz
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María-Isabel Encinar: Departamento de Análisis Económico: Teoría Económica e Historia Económica. Universidad Autónoma de Madrid. Spain.

Revista de Economía y Finanzas (REyF), 2023, vol. 1, issue 3, 209-222

Abstract: Economic theories, regardless of their specific type or adscription to any school of thought, typically deal with processes of resource allocation (allocative processes). It is the different visions of human nature and society (and, therefore, their schemes of interaction) specific to each theory that explain the existence of different theoretical proposals. In this article, we identify some of the basic elements of all economic theory, and for classifying purposes, we propose a straightforward template that allows us to generate a taxonomy for the study of different theories. As an extension of this exercise, we also discuss the minimum conditions for a criterion of scientific progress in economic theory.

Keywords: Procesos asignativos; Comparación entre diferentes teorías; Criterio de progreso científico (search for similar items in EconPapers)
JEL-codes: B20 B41 (search for similar items in EconPapers)
Date: 2023
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