Equilibrium versus understanding
Subtitle: towards the restoration of economics as social theory
By: Mark Addleson.
Series: Routledge frontiers of political economy ;; 1
Publisher: Routledge
Published: 1995
Place of publication: London; New York
Language: eng
Number of pages: 293
Subjects: Equilibrium (Economics); Decision making.; Uncertainty.; Economics -- Methodology.
Description: The theories we use shape the way we look at the world and influence our explanations of people's behaviour. Equilibrium versus Understanding argues that neoclassical theory is incapable of explaining or understanding people's conduct. As a result it is unsuitable for explaining decisions and choices. The author asserts that a different sort of economic theory is required if economists are to understand and get to grips with social problems. As an alternative, he proposes a hermeneutic theory.
Notes: Includes bibliographical references (p. 266-287) and index.