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Objective Principles of Economics

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  • Kakarot-Handtke, Egmont

Abstract

Economists have the habit of solving the wrong problems. They speculate circumstantially about the behavior of agents and do not come to grips with the behavior of the monetary economy. This is the consequence of the methodological imperative that all explanations must run in terms of the actions and reactions of individuals. The critical point is that no way leads from the understanding of the interaction of the individuals to the understanding of the working of the economy as a whole. The solution consists in moving from subjective-behavioral axioms to objective-structural axioms, i.e. from past to future.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2014. "Objective Principles of Economics," MPRA Paper 55031, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:55031
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    References listed on IDEAS

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    11. Kakarot-Handtke, Egmont, 2011. "Primary and secondary markets," MPRA Paper 32996, University Library of Munich, Germany.
    12. Kakarot-Handtke, Egmont, 2014. "Exchange in the Monetary Economy," MPRA Paper 53437, University Library of Munich, Germany.
    13. Egmont Kakarot-Handtke, 2013. "Why Post Keynesianism is Not Yet a Science," Economic Analysis and Policy, Elsevier, vol. 43(1), pages 95-108, March.
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    Cited by:

    1. Kakarot-Handtke, Egmont, 2014. "The Law of Supply and Demand: Here It Is Finally," MPRA Paper 58004, University Library of Munich, Germany.
    2. Kakarot-Handtke, Egmont, 2014. "The Three Fatal Mistakes of Yesterday Economics: Profit, I=S, Employment," MPRA Paper 58253, University Library of Munich, Germany.

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    More about this item

    Keywords

    new framework of concepts; structure-centric; axiom set; methodology; complex adaptive system; profit;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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