Cover: The Failures of Economics: A Diagnostic Study, from Harvard University PressCover: The Failures of Economics in E-DITION

The Failures of Economics

A Diagnostic Study

Available from De Gruyter »

Product Details

E-DITION

$65.00 • £54.95 • €60.00

ISBN 9780674422087

Publication Date: 01/01/1955

254 pages

World

Harvard University Press has partnered with De Gruyter to make available for sale worldwide virtually all in-copyright HUP books that had become unavailable since their original publication. The 2,800 titles in the “e-ditions” program can be purchased individually as PDF eBooks or as hardcover reprint (“print-on-demand”) editions via the “Available from De Gruyter” link above. They are also available to institutions in ten separate subject-area packages that reflect the entire spectrum of the Press’s catalog. More about the E-ditions Program »

This is a controversial book in a field where controversies may vitally affect the welfare of all citizens. Although it is well realized that economics is not an autonomous, self-sufficient discipline except by sheer custom, Sidney Schoeffler believes that far too many economists, and among them most of the leaders of the profession, have reasoned from bases which would assume that the theory of economics was subject to more rigorous reasoning than is possible.

Much work is currently being carried on by economists, logicians, mathematicians, statisticians, and philosophers that promises important methodological advances in the near future. However, the author warns, the methodology of economics still needs intense study before relatively safe predictions on the business cycle and the future of industry can be made. Factors which must be better understood before economics can stand as a strict discipline include: the complexity of the economic world; the impossibility of experimentation in economics; the free will of human beings; the general indeterminacy of the universe; the self-defeating nature of social forecasts; the difficulty of an open-minded, neutral, scientific approach.

Recent News

Black lives matter. Black voices matter. A statement from HUP »

From Our Blog

Marking the 75th Anniversary of Independence from British Rule

August 14 and August 15 mark the seventy-fifth anniversary of independence from British rule for Pakistan and India, respectively. Inextricably linked to the birth of these two South Asian nations is the 1947 Partition of the subcontinent that tragically accompanied the end of British colonialism.