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How Theory Came to English Classical Economics
journal contribution
posted on 2023-05-16, 10:17 authored by Coleman, WOThe confidently theoretical method of English classical economics is traced to the Enlightenment's struggle to resolve the disputes between rationalism and anti-rationalism which had dominated the 17th century. it is argued that, in an attempt to resolve these disputes, several Enlightenment authors, including David Hume and Dugald Stewart, sought to unite empiricism with the notion of law-like universe by arguing that economic laws are no more than general facts apparent from everyday life. This position, by denying that theory had any connection with the hypothetical, the instrumental or the abstract, blurred the distinction between theory and fact, and taught Classical economists to see their theorising as fact. This position thereby gave the Classical economists licence to pursue their theoretical speculations, free from any doubts or uncertainties about their theorising.
History
Publication title
Scottish Journal of Political EconomyVolume
43Pagination
207-228ISSN
0036-9292Department/School
TSBEPublisher
Blackwell Publ LtdPlace of publication
108 Cowley Rd, Oxford, England, Oxon, Ox4 1JfRepository Status
- Restricted