CAUSALITY IN MACROECONOMICSHoover’s

Julian Reiss

A chapter in A Research Annual, 2005, pp 173-182 from Emerald Group Publishing Limited

Abstract: In the 19th century, John Stuart Mill argued that economics could not be an inductive science because it lacks that which is the essence of inductive science,viz. the experiment. Since there is no experiment, economic claims cannot be established inductively but must instead be justified deductively on the basis of antecedently accepted theoretical claims about human behaviour.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rhetzz:s0743-4154(05)23007-9

DOI: 10.1016/S0743-4154(05)23007-9

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