Hermeneutics and Economics

Gheorghe Bailesteanu
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Gheorghe Bailesteanu: West University of Timisoara, Faculty of Economics and Business Administration, Romania

Timisoara Journal of Economics, 2009, vol. 2, issue 3(7), 121-128

Abstract: If hermeneutics has obtained remarkable results in the field of arts, philosophy, literature and every other field that operates with symbols, why not bring it in the field of economics as well? Economic hermeneutics starts, first, from the premise of the economic knowledge relativity. Secondly, a correct interpretation requires appropriate techniques for researching causal relations. Thirdly, explanation and prediction give the consistency of interpretation, because the explanation is the one to make a phenomenon easy to understand by revealing the causes of its rise, and the prediction anticipates the result, starting from the original phenomena, the ones that are expected to happen, and the laws governing them. Fourthly, the argumentation is meant to persuade others, in a rational way, that the interpretation is correct. This paper presents a synthesis of the systematic character of the economic hermeneutics. The arguments favoring economic hermeneutics are not intended to suggest that we pursue the completion of the construction of hermeneutics. We are aware of the limitations of the approach. But we would take pleasure in raising future debates and pursue new ideas concerning the present analysis, at least awaking the interest of others expecting this way new developments on the analyzed issue.

Keywords: Economic phenomenon; Reasoning; Argumentation; Interpretation; Economic hermeneutics (search for similar items in EconPapers)
JEL-codes: A12 B41 (search for similar items in EconPapers)
Date: 2009
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