Stop Recycling Dead Economic Theories, Start the Paradigm Shift
27 Pages Posted: 2 Apr 2020
Date Written: February 26, 2020
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: Suggested Citation