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Theory appraisal in neoclassical economics

  • Economics


After answering relatively minor criticisms of The Inexact and Separate Science of Economics by Geert Reuten and Uskali Maki, this essay grants their main charge that I could not sensibly defend the way economists assess theories while at the same time criticizing their insistence that economic theories be unified and of maximal scope. I should have said that economists are mistaken in their methods of assessment because they focus on the wrong data and because they unjustifiably insist that only unified theories with wide scope need be considered.

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