RETHINK
ECONOMICS
RETHINK
ECONOMICS
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Austrian economics focuses on the economic coordination of individuals in a market economy. Austrian economics emphasises individualism, subjectivism, laissez-faire politics, uncertainty and the role of the entrepreneur, amongst others.
2017
Level: advanced
From the two premises that (1) economies are complex systems and (2) the accumulation of knowledge about reality is desirable, I derive the conclusion that pluralism with regard to economic research programs is a more viable position to hold than monism. To substantiate this claim an epistemological framework of how scholars study their objects of inquiry and relate their models to reality is discussed. Furthermore, it is argued that given the current institutions of our scientific system, economics self-organizes towards a state of scientific unity. Since such a state is epistemologically inferior to a state of plurality, critical intervention is desirable.

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