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- Title
ECONOMIC THEORY AS A LANGUAGE.
- Authors
De Allesi, Louis
- Abstract
The article argues on the distinction drawn by M. Friedman, an economist, that economic theory is partly a language and set of tautologies and partly is a body of substantive hypotheses. Friedman accents this distinction in his recent text in price theory, where he suggests that these two parts are distinct or distinguishable elements in the expression of economic theory. Such a distinction not only fails to contribute to the argument for positive versus normative economics, but detracts from the crucial recognition of economics as an empirical discipline, and may lead to confusion.
- Subjects
ECONOMISTS; ECONOMICS; ECONOMIC models; MICROECONOMICS; STATISTICAL hypothesis testing; ECONOMIC statistics; HYPOTHESIS
- Publication
Quarterly Journal of Economics, 1965, Vol 79, Issue 3, p472
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1882710