Contributions to Economics: A New Approach

Köhn, Julia

In this book the author develops a new approach to uncertainty in economics, which calls for a fundamental change in the methodology of economics. It provides a comprehensive overview and critical appraisal of the economic theory of uncertainty and shows that uncertainty was originally conceptualized both as an epistemic and an ontological problem. As a result of the economic professions’ attempt to become acknowledged as a science, the more problematic aspect of ontological uncertainty has been neglected and the subjective probability approach to uncertainty became dominant in economic theory. A careful analysis of ontological theories of uncertainty explains the blindness of modern economics to economic phenomena such as instability, slumps or excessive booms. Based on these findings the author develops a new approach that legitimizes a New Uncertainty Paradigm in economics.

Details

Published by: Springer

Publication Date: 2018-08-01

Format: Paperback

ISBN-13: 9783319856353

DOI: 10.1007/978-3-319-55351-1

Dimensions: 235cm x155cm

Pages: 199