Abstract

http://ssrn.com/abstract=1082595
 
 

References (26)



 


 



Meta-Economic Principles


Kim R. Sawyer


University of Melbourne - School of Historical and Philosophical Studies

Clive Beed


Retired from Melbourne University

Brian Ellis


affiliation not provided to SSRN

Howard Sankey


University of Melbourne - School of Historical and Philosophical Studies

January 2008


Abstract:     
In this paper we consider meta-economic principles, those principles which underscore the theoretical thinking of economics. Meta-economic principles are different from laws; they relate to the principles of theory construction, to the assumptions which are implicit in theory, to the constraints imposed on theories and to the analysis and scope of theories. We identify seven meta-economic principles; self-interest, the structure of incentives, minimisation of transactions costs, rationality and time consistency, individuals as economic agents, the pricing of everything and completion of markets. These are the principles which have spanned generations of economic thinking. To illustrate the role of meta-principles in economic theory, we consider a number of articles from the Journal of Political Economy. The testability of meta-economic principles is examined, both in terms of the normative principles adopted in economic theory, and in observed economic behaviour.

Number of Pages in PDF File: 23

Keywords: meta-theory, principles, testability

JEL Classification: A10, B41

working papers series


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Date posted: January 12, 2008  

Suggested Citation

Sawyer, Kim R. and Beed, Clive and Ellis, Brian and Sankey, Howard, Meta-Economic Principles (January 2008). Available at SSRN: http://ssrn.com/abstract=1082595 or http://dx.doi.org/10.2139/ssrn.1082595

Contact Information

Kim Russell Sawyer (Contact Author)
University of Melbourne - School of Historical and Philosophical Studies ( email )
Melbourne
Australia
Clive N. Beed
Retired from Melbourne University ( email )
Melbourne
Australia
Brian Ellis
affiliation not provided to SSRN
No Address Available
Howard Sankey
University of Melbourne - School of Historical and Philosophical Studies ( email )
Australia
Feedback to SSRN


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References:  26

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