Abstract

AbstractThis paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and social choice. In all of these fields I attempted to apply the basic precepts of the scientific method as it is understood in the natural sciences. I found that my effort at using natural science methods in economics was met with little understanding and often considerable hostility. I found economics to be driven less by common sense and empirical evidence, than by various ideologies that exhibited either a political or a methodological bias, or both. This brings me to the second source: Several books have appeared recently that describe in historical terms the ideological forces that have shaped either the direct areas in which I worked, or a broader background. These books taught me that the ideological forces in the social sciences are even stronger than I imagined on the basis of my own experiences.The scientific method is the antipode to ideology. I feel that the scientific work that I have done on specific, long standing and fundamental problems in economics and political science have given me additional insights into the destructive role of ideology beyond the history of thought orientation of the works I will be discussing.

Highlights

  • IntroductionThis paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and social choice

  • This paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and social choice. In all of these fields I attempted to apply the basic precepts of the scientific method as it is understood in the natural sciences

  • What has been the consequence? My conjecture is that few contemporary economists are aware of the cited evidence and few would express any confidence in the quantity theory

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Summary

Introduction

This paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and social choice. I found economics to be driven less by common sense and empirical evidence, by various ideologies that exhibited either a political or a methodological bias, or both This brings me to the second source: Several books have appeared recently that describe in historical terms the ideological forces that have shaped either the direct areas in which I worked, or a broader background. This definition accords with that given by Ravetz, cited earlier: an immature science is one that has not agreed on criteria for determining factual truth. The question of the possibility of science in the social realm remains open and important

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