Economics: Mathematical Politics or Science of Diminishing Returns? (Science & Its Conceptual Foundations) Book + PRICE WATCH * Amazon pricing is not included in price watch

Economics: Mathematical Politics or Science of Diminishing Returns? (Science & Its Conceptual Foundations) Book

Economics--Mathematical Politics or Science of Diminishing Returns? : Hardback : The University of Chicago Press : 9780226727233 : 0226727238 : 01 Oct 1992 : Economists pride themselves on being hard-headed and scientific, says Alexander Rosenberg, yet their theory and methods belie their commitments. Economics is no better at predicting the likely outcome of specific events today than it was in the time of Adam Smith, and Rosenberg argues that therefore we must fundamentally rethink the status of economics as scientific theory. Economics, he contends, is not science. Its intellectual achievements make it a branch of political philosophy - a component...Read More

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  • Product Description

    Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenberg's controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability--the capacity to create more precise forecasts by evaluating the success of earlier predictions--and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it is not a science.

  • 0226727238
  • 9780226727233
  • Rosenberg
  • 1 July 1992
  • Chicago University Press
  • Hardcover (Book)
  • 283
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