Economics--Mathematical Politics or Science of Diminishing Returns?

by Alexander Rosenberg

Book Details

Format Paperback / Softback

Book Series Science and Its Conceptual Foundations series

ISBN-10 0226727246

ISBN-13 9780226727240

Publisher The University of Chicago Press

Imprint University of Chicago Press

Country of Manufacture US

Country of Publication GB

Publication Date Nov 28th, 1994

Print length 283 Pages

Weight 392 grams

Dimensions 22.80 x 16.40 x 1.60 cms

Product Classification: Economic theory & philosophy Philosophy of science

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Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenberg's controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability—the capacity to create more precise forecasts by evaluating the success of earlier predictions—and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it is not a science.

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