Confirming Mainstream Economic Theory

Theoria: Revista de Teoría, Historia y Fundamentos de la Ciencia 13 (2):261-278 (1998)
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Abstract

This essay is concerned with the special difficulties that arise in testing and appraising mainstream economic theory. I argue that, like other theories designed to apply to complex open systems, it is very hard to confirm mainsteam economics. Parts can be tested and appraised, but the theory is only very weakly supported by evidence.

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04954548

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Daniel Hausman
University of Wisconsin, Madison

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