Stop Recycling Dead Economic Theories, Start the Paradigm Shift

27 Pages Posted: 2 Apr 2020

See all articles by Egmont Kakarot-Handtke

Egmont Kakarot-Handtke

University of Stuttgart - Institute of Economics and Law

Date Written: February 26, 2020

Abstract

The major approaches Walrasianism, Keynesianism, Marxianism, Austrianism, MMT are mutually contradictory, axiomatically false, materially/formally inconsistent and all got the foundational concept of the subject matter profit wrong. What we have is the pluralism of provably false theories. Criticism and marginal improvements are pointless. It takes a new theory to beat an old theory.

Keywords: new framework of concepts, structure-centric, axiomatization, macrofoundations, paradigm shift

JEL Classification: B22, B41, E20, E30

Suggested Citation

Kakarot-Handtke, Egmont, Stop Recycling Dead Economic Theories, Start the Paradigm Shift (February 26, 2020). Available at SSRN: https://ssrn.com/abstract=3544936 or http://dx.doi.org/10.2139/ssrn.3544936

Egmont Kakarot-Handtke (Contact Author)

University of Stuttgart - Institute of Economics and Law ( email )

Keplerstrasse 17
Stuttgart
Germany

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