Download this Paper Open PDF in Browser

Economic Singularism

RESEARCH IN THE HISTORY OF ECONOMIC THOUGHT AND METHODOLOGY, Vol. 26-A, pp. 15-30, Emerald Group Publishing, 2008

16 Pages Posted: 23 May 2011  

Walter E. Block

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business

William Barnett II

Loyola University New Orleans

Date Written: May 17, 2011

Abstract

There is something of an underground debate going on within Austrian economic circles over conferring the best synonym to this school of thought. Here, "best" is an attempt to uncover the most accurate description of the economic strain of analysis that stems from Menger (1871[1950]). That is the first purpose of the present paper, and our attempt to answer this is the burden of the first section. In the second section, we apply our choice for the appellation "singularism" to supply and demand, and in the third section to indifference. The fourth section is given over to a singularistic analysis of a challenge which has also led a subterranean existence, this time in the neoclassical division of the economics profession: the issue of why some people stand on escalators, allowing these contraptions to carry them upward or downward, while no one treats stairs in any such manner. Specifically, we maintain that it is illegitimate to even draw supply and demand curves, and that there are grave difficulties with indifference and the debate concerning walking up the escalator versus using the staircase.

Suggested Citation

Block, Walter E. and Barnett, William, Economic Singularism (May 17, 2011). RESEARCH IN THE HISTORY OF ECONOMIC THOUGHT AND METHODOLOGY, Vol. 26-A, pp. 15-30, Emerald Group Publishing, 2008. Available at SSRN: https://ssrn.com/abstract=1845144

Walter E. Block (Contact Author)

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business ( email )

6363 St. Charles Avenue
Box 15, Miller 321
New Orleans, LA 70118
United States
(504) 864-7944 (Phone)
(504) 864-7970 (Fax)

William Barnett II

Loyola University New Orleans ( email )

526 Pine Street
New Orleans, LA 70118
United States

Paper statistics

Downloads
27
Abstract Views
270