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Truth

In: INCLUSIVE ECONOMIC THEORY

Author

Listed:
  • Steven Rosefielde
  • Ralph W. Pfouts

Abstract

Inclusive economics is an ambiguous synthetic social science, despite its comprehensiveness, axiomatic versatility and conceptual rigor. Like other social sciences, its powers of prediction are weak, especially in the macroeconomic domain. This is why Alexander Rosenberg dismisses idealist and realist neoclassical theoretic aspect of synthetic economic science as “mathematical politics.” Real science for him must be comprehensively falsifiable. The criterion however is too stringent. Logically sound, but weakly falsifiable neoclassical theories create weak forms of useful knowledge. They are weakly scientific and better than idle speculation…

Suggested Citation

  • Steven Rosefielde & Ralph W. Pfouts, 2014. "Truth," World Scientific Book Chapters, in: INCLUSIVE ECONOMIC THEORY, chapter 16, pages 143-149, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814566650_0016
    as

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