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Notes on revisiting Klappholz and Agassi’s “Methodological Prescriptions in Economics”

Foldes, Lucien (2017) Notes on revisiting Klappholz and Agassi’s “Methodological Prescriptions in Economics”. In: Bar-AM, Nimrod and Gattei, Stefano, (eds.) Encouraging Openness: Essays for Joseph Agassi on the Occasion of His 90th Birthday. Boston Studies in the Philosophy and History of Science. Springer Berlin / Heidelberg, Cham, CH, 455 - 466. ISBN 9783319576688

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Identification Number: 10.1007/978-3-319-57669-5_36


I reconsider the paper ‘Methodological Prescriptions in Economics’, Economica, February 1959, by Kurt Klappholz and Joseph Agassi. I criticise the thesis that “there is only one generally applicable methodological rule, and that is the exhortation to be critical […].” I compare the methodology of physics with that of economics, and discuss whether typical economic ‘laws’ are testable hypotheses. I consider whether an approach to economic policy based on welfare economics is biassed. In conclusion, I sketch an approach to economic methodology and suggest some rules of method that may be useful to the working economist.

Item Type: Book Section
Official URL:
Additional Information: © 2017 Springer International Publishing AG
Divisions: Systemic Risk Centre
Subjects: H Social Sciences > HB Economic Theory
JEL classification: B - Schools of Economic Thought and Methodology > B4 - Economic Methodology > B40 - General
Date Deposited: 01 Aug 2022 13:36
Last Modified: 29 Feb 2024 04:57

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