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Economic Thought, Economic Analysis, and Political Aims

Fritz Machlup
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Fritz Machlup: New York University

Chapter 3 in A History of Thought on Economic Integration, 1977, pp 39-42 from Palgrave Macmillan

Abstract: Abstract This will be a brief chapter in defence of distinctions which according to some schools of thought are not justified by genuine differences. To differentiate between economic analysis and economic thought may be to judge the former as rigorous and the latter as superficial, or to suggest that the former develops generalisations while the latter offers generalities. Such judgements would be offensive to many. On the other hand, there is much to be said in favour of the distinction, especially if it serves to contrast pure with applied theory.

Keywords: Economic Analysis; Economic Integration; Factor Price; Custom Union; Economic Thought (search for similar items in EconPapers)
Date: 1977
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DOI: 10.1007/978-1-349-03171-9_3

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