An Exploratory Survey Study into the Validity of Economic Assumptions
23 Pages Posted: 9 Oct 2003
Date Written: September 10, 2003
A questionnaire administered to two independent student samples examined the assumptions behind the theories of the Chicago School of Economics. On the normative question statements the respondents did not agree with these assumptions. Furthermore, the normative position of the respondents contradicted the logic of positive economics. This important contradiction should be explained to the beginning economics student. Positive economics itself was also called into question, suggesting that its complete validity should be investigated with high impact deception studies.
JEL Classification: A12, A13, A20, A22, A23, A29
Suggested Citation: Suggested Citation