Milton Friedman once said that “a theory is the way we perceive ‘facts,’ and we cannot perceive ‘facts’ without a theory.” This is rarely a new topic in the philosophy of science, however the debate around use of theory in economics is still an ongoing one. In the book, Economics Rules, Dani Rodrik scrutinizes such… Continue reading
Posts tagged "Economic Theory"
Gary Becker and Theory of Everything
A relatively old but interesting paper by Daniel Matthew Custance Lawson of University of Notre Dame on economic theory through Gary Becker’s lens. “A well-defined quest is a rarity on its own, but the scope of the quest increases the scale of the drama; a quest to kill a fly in the kitchen has far less appeal than… Continue reading