Economic Methodology

Economic Methodology:

March 2020 - RWER: Models and Reality: How Models Divorced from Reality Became Epistemologically Acceptable -

1. Confllict between General Equillibrium and the Marshallian Cross

2. Normative Foundations of Scarcity: (submitted to Economics & Philosophy journal Sept. 2010

3. Rise and Fall of Market Economies submitted to Review of Islamic Economics

4. “The Limits of Market Economy,” entry in Encyclopedia of Islamic Economics,to appear.

5. Death of a Metaphor:The Invisible Hand, submitted to Reardon, IJPEE --

6. Differentiating Math and Science: Towards a New Methodology for Economics, with Manicas

7. Keen Prices: A new theory of the firm based on the insight that P=MC is not the rule which maximizes profits EVER.

Econometric Methodology (see Econometrics Page)

Drafts and Ideas:

1. Normative Positive Distinction

   1. Greed vs. Generosity (Failure of Utility Theory)

   2. Invisible Hand failure.

   3. with Mehmet Karacuka: Empirical Evidence Against Utility Theory [draft]