Blog-Reference
Barkley Rosser,
Congratulations on the appointment as one of three editors-in-chief of Palgrave Dictionary. Here is my unsolicited proposal for the foreword of the new edition.
Seven Plain Facts About ‘Economic Sciences’
- Science manifests itself in the form of the true theory.
- Truth is well-defined by material and formal consistency.
- Logical consistency is secured by applying the axiomatic-deductive method and material consistency by applying state-of-the-art testing.
- The true theory/model is the humanly best mental representation of reality.
- “When the premises are certain, true, and primary, and the conclusion formally follows from them, this is demonstration, and produces scientific knowledge of a thing.” (Aristotle, 300 BC)
- The four main approaches ― Walrasianism, Keynesianism, Marxianism, Austrianism ― are mutually contradictory, axiomatically false, materially/formally inconsistent and all got the pivotal economic concept profit wrong.
- Orthodox and heterodox economics is failed/fake science, i.e. mere political agenda pushing. A Paradigm Shift is called for.*
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