15 research outputs found
Notes on revisiting Klappholz and Agassiās āMethodological Prescriptions in Economicsā
I reconsider the paper āMethodological Prescriptions in Economicsā, Economica, February 1959, by Kurt Klappholz and Joseph Agassi. I criticise the thesis that āthere is only one generally applicable methodological rule, and that is the exhortation to be critical [ā¦].ā I compare the methodology of physics with that of economics, and discuss whether typical economic ālawsā 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