The problem of progress in economic science
Part of : Σπουδαί : journal of economics and business ; Vol.34, No.1, 1984, pages 31-40
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31-40
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The purpose of this paper is to examine scientific economic enterprise from the point of view of theory choice and methods. Essentially I shall argue that progress in economics is not solely a matter of discovering «better» theories within the context of the existing methodology, but rather, the failure of economic science to live up to expectations is the consequence of ignoring some fundamental methodological issues. In particular, economists have not often practiced what they have preached as positivists, and in cases where they have, the philosophy has not been applicable. In other words, the rational basis for scientific economic enterprise becomes questionable if one looks at the relationship between practice and philosophy.
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