A CRITIQUE OF DEFINITIONS IN ECONOMICS FROM AN AUSTRIAN PERSPECTIVE: MICROECONOMICS Cover Image

Критични бележки относно дефинициите в областта на икономиката от австрийска гледна точка: микроикономика
A CRITIQUE OF DEFINITIONS IN ECONOMICS FROM AN AUSTRIAN PERSPECTIVE: MICROECONOMICS

Author(s): Laura Davidson, Walter E. Block
Subject(s): Economy
Published by: Стопанска академия »Д. А. Ценов«
Keywords: Clarity; science; communication

Summary/Abstract: In the physical sciences, it goes without saying that all practitioners usewords in the same manner. A mere verbal dispute would be anathema in this arena of intellectual discourse. There is no dispute, , as to the means of words such as“gravity,” “mass,” “genus,” “species,” “oxygen,” “x-ray,” etc. Matters are not as salutary in the social sciences. The present paper is an attempt to place economics, thequeen of the social sciences, on a par with physics, chemistry, biology, etc., or at leastto make an attempt in this direction. Systematic knowledge, the sine qua non of science, requires good communication. But this, in turn, can only be achieved, if it snecessary condition is attained: precise definitions. In the present paper, we discuss in this regard the microeconomic concepts of entrepreneurship, monopoly, derps, indifference, development and rent seeking.

  • Issue Year: 2015
  • Issue No: 04
  • Page Range: 43-59
  • Page Count: 17
  • Language: English