Economic Categorization

9 Pages Posted: 6 Jul 2011

See all articles by Walter E. Block

Walter E. Block

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

William Barnett

Loyola University New Orleans

Date Written: July 5, 2011

Abstract

Classification is the essence of the sciences of biology and chemistry. Without the genus and species concepts of the former, and the periodical table of elements of the latter, these disciplines would be very different enterprises. While it is of course a wild exaggeration to say that biological and chemical science consists of no more than cataloging, even contemplating this notion is a dramatic way of underscoring the crucial centrality of this mode of analysis to those bodies of learning.

In economics, matters are different. There is relatively little emphasis on sorting the various elements of the dismal science. However, it is our contention that taxonomy is important in this realm as well. The present paper is devoted to a sorting out of the different elements of the dismal science. In section II we tackle the question of how the disciplines, and the schools of thought are to be characterized. Section III is devoted to a deconstruction of Austrian economics. In section IV we deal with an objection to our thesis. We conclude in section V.

Suggested Citation

Block, Walter E. and Barnett, William, Economic Categorization (July 5, 2011). Available at SSRN: https://ssrn.com/abstract=1879491 or http://dx.doi.org/10.2139/ssrn.1879491

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

Loyola University New Orleans ( email )

526 Pine Street
New Orleans, LA 70118
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
20
Abstract Views
381
PlumX Metrics