Introduction: Does Economics Deal with the Economic Stuff? Or Is the Economic Stuff Explained by Economics?

Ricardo Crespo

Chapter Chapter 1 in The Nature of the Economy, 2022, pp 1-13 from Springer

Abstract: Abstract This introductory chapter explains the purpose of this book—i.e., to investigate the nature of the economy and its “constituents” in order to adjust economics to them. This aim assumes that every science should be epistemologically and methodologically adapted to the nature of its subject matter. The chapter notes that there is a mismatch between economic reality and standard economics rationality, which shows, for example, in laboratory and natural experiments. The cause of this mismatch, the chapter argues, hinges on the “first principles” of economic science, and its source is philosophical. Consequently, overcoming it requires a philosophical metaphysical analysis of the nature of the economy.

Date: 2022
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DOI: 10.1007/978-3-031-02453-5_1

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