Prediction and Prescription in Economics


Abstract
“Prediction” and “prescription” are crucial notions for economics. This paper offers a philosophical and methodological approach and takes into account the connection with the problem of science and values. To do this, two steps are followed: firstly, prediction in economics -its characteristics and limits- will be examined and, secondly, the role of prescription in economics will be studied. Thus; the underlying aims of this paper are to make explicit the characters of economic prediction, to show its nexus with the economic prescription and to point out the links of both -especially, the latter- with the specific values of “economic activity” and the values of “economics as activity”.
Keywords Analytic Philosophy  Philosophy of Science
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ISBN(s) 0495-4548  
DOI theoria199813224
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