Category Archives: Methodology

Capitalism and Economic Growth

The global financial crisis (GFC) has been blamed on the failure of capitalism, with the 2011 Occupy protests declaring, “capitalism isn’t working” (Hussey, 2014). What is capitalism which has failed? Economists appear reluctant to define explicitly key economic terms such … Continue reading

Posted in Economics, Methodology, Science | 7 Comments

Facts and Economic Science

It is clear that economics is in chaos when there are significant disagreements about basic facts of economics. There is an abundance of statistical data presented by the media, but there are few agreed facts. Is there too much government … Continue reading

Posted in Methodology, Science | 3 Comments


The reason for discussing methodology is to explain why we do things differently and to warn readers not to expect to see on this blog, standard methods for investigating economics. Different methods are used here to develop new economic knowledge. … Continue reading

Posted in Economics, Methodology | 10 Comments

What is a Paradigm?

What is a paradigm?  Why is it so important to understand what it is?  Why has economics changed so little even after its obvious failure in the recent global economic crisis? Durability of Paradigm Most people commonly misuse the word … Continue reading

Posted in Methodology, Paradigm | Leave a comment