Scientific Economic Laws of Capitalism

Adolfo Figueroa

Chapter Chapter 2 in The Quality of Society, Volume II, 2021, pp 11-36 from Springer

Abstract: Abstract The discovery of causality relations is one of the main objectives of science. Epistemology principles dictate that causality relations can only be derived from scientific theories. Therefore, the answer to the questions of why and how capitalism functions in a particular way cannot come from data alone, but from an economic theory that has survived the falsification process; that is, in order to understand the real world, the construction of an abstract world is a necessary condition. No theory, no causality, and no explanation. Unified theory of capitalism satisfies these epistemological requirements. Therefore, this essay presents the causality relations that the unified theory is able to establish, which constitute the economic laws of capitalism. A comparison with the laws derived from standard economics is also presented. The nature of scientific laws in economics is then discussed.

Keywords: Causality; Economic laws of capitalism; Epistemology; First World; Standard economics; Third World; Unified theory of capitalism (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-79565-8_2

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DOI: 10.1007/978-3-030-79565-8_2

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