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Economic Thought, Economic Analysis, and Political Aims

In: A History of Thought on Economic Integration

Author

Listed:
  • Fritz Machlup

    (New York University)

Abstract

This will be a brief chapter in defence of distinctions which according to some schools of thought are not justified by genuine differences. To differentiate between economic analysis and economic thought may be to judge the former as rigorous and the latter as superficial, or to suggest that the former develops generalisations while the latter offers generalities. Such judgements would be offensive to many. On the other hand, there is much to be said in favour of the distinction, especially if it serves to contrast pure with applied theory.

Suggested Citation

  • Fritz Machlup, 1977. "Economic Thought, Economic Analysis, and Political Aims," Palgrave Macmillan Books, in: A History of Thought on Economic Integration, chapter 3, pages 39-42, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03171-9_3
    DOI: 10.1007/978-1-349-03171-9_3
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