Add to ORKGMost non-economists tend to think that economists know what they are talking about when they use specific terms like income, profit, capital, market equilibrium, and so on. This is not the case. What, then, follows from the well-documented fact that the representative economist has no idea of what profit is? Quite simple: if the core concept profit is false then the whole economic theory/model is false. This holds for the Walrasian, the Keynesian, the Marxian, and the Austrian approach
The goal of theoretical economics is to explain how the actual economy works. Since Adam Smith econo...
All popular schools lack a consistent profit theory. Economists have no true conception of the most ...
Steve Keen has debunked a good part of standard economics. However, he has left standing the theory ...
Most non-economists tend to think that economists know what they are talking about when they use spe...
The representative economist does not understand the two most important phenomena in the economic un...
The present paper takes it as an indisputable fact that subjective-behavioral thinking leads, for de...
Marxian economics and standard economics are widely different yet they share a central weakness: th...
Economists have the habit of solving the wrong problems. They speculate circumstantially about the ...
Economists are blind to reality which is evident from the recent financial crisis. The superstructur...
The characteristic capability of science – to turn whatever it might touch into knowledge – seems to...
Neither Walrasians nor Keynesians have a clear idea of the fundamental economic concepts income and ...
Economists disagree; this is a matter of fact. Economics has an empirical methodology to verify what...
Need a theory's assumptions be true? In a since notorious essay, the economist Friedman argued they...
When we characterize an argument that has no sound theoretical foundation as political, then what ha...
This is a mirror, deposited with MPRA for completeness, of the same paper at the Social Science Rese...
The goal of theoretical economics is to explain how the actual economy works. Since Adam Smith econo...
All popular schools lack a consistent profit theory. Economists have no true conception of the most ...
Steve Keen has debunked a good part of standard economics. However, he has left standing the theory ...
Most non-economists tend to think that economists know what they are talking about when they use spe...
The representative economist does not understand the two most important phenomena in the economic un...
The present paper takes it as an indisputable fact that subjective-behavioral thinking leads, for de...
Marxian economics and standard economics are widely different yet they share a central weakness: th...
Economists have the habit of solving the wrong problems. They speculate circumstantially about the ...
Economists are blind to reality which is evident from the recent financial crisis. The superstructur...
The characteristic capability of science – to turn whatever it might touch into knowledge – seems to...
Neither Walrasians nor Keynesians have a clear idea of the fundamental economic concepts income and ...
Economists disagree; this is a matter of fact. Economics has an empirical methodology to verify what...
Need a theory's assumptions be true? In a since notorious essay, the economist Friedman argued they...
When we characterize an argument that has no sound theoretical foundation as political, then what ha...
This is a mirror, deposited with MPRA for completeness, of the same paper at the Social Science Rese...
The goal of theoretical economics is to explain how the actual economy works. Since Adam Smith econo...
All popular schools lack a consistent profit theory. Economists have no true conception of the most ...
Steve Keen has debunked a good part of standard economics. However, he has left standing the theory ...