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

Text (Foldes_notes-on-revisiting-methodological-prescriptions-in-economics--accepted) - Accepted Version Download (124kB)

• Publisher

Abstract

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:	https://link.springer.com/book/10.1007/978-3-319-5...
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:	11 Dec 2024 18:06
URI:	http://eprints.lse.ac.uk/id/eprint/115741

Actions (login required)

View Item