CAUSALITY AND CAUSAL LAWS IN ECONOMICS

After presenting and discussing H. Feigl's definition of causality and the general properties of causal laws in science, an explanation of why research in the area of "causality testing" in the last two decades has not produced many, if any, causal laws in economics. Then a leading study is reviewed which illustrates the author's preferred methodological approach and which yielded many fruitful research results. It is concluded that more studies of this kind will help to, produce more causal laws in economics