Policy Recommendations as Spurious Predictions: Toward a Theory of Economists' Ignorance
Fforde, Adam ORCID: 0000-0001-6088-8310
(2011)
Policy Recommendations as Spurious Predictions: Toward a Theory of Economists' Ignorance.
Critical Review: A Journal of Politics and Society, 23 (1-2).
pp. 105-115.
ISSN 0891-3811 (print) 1933-8007 (online)
Abstract
Lao Tzu and Marx together provide the basis of an epistemology based on ignorance—not on knowledge. The failure of an epistemology based on knowledge is shown by the internal inconsistencies afflicting mainstream economics: Economic theory predicts certain empirical phenomena but these fail to reveal themselves. In fact, the strongest research finding in development economics is that there are almost no robust empirical relationships between an implemented policy and its desired outcomes in the real world. A theory of ignorance can highlight many economic contradictions—and may even prove useful in understanding autistics.
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Item type | Article |
URI | https://vuir.vu.edu.au/id/eprint/9434 |
DOI | 10.1080/08913811.2011.574473 |
Official URL | https://www.tandfonline.com/doi/abs/10.1080/089138... |
Subjects | Historical > FOR Classification > 1402 Applied Economics Historical > FOR Classification > 1606 Political Science Historical > SEO Classification > 970114 Expanding Knowledge in Economics Historical > Faculty/School/Research Centre/Department > Centre for Strategic Economic Studies (CSES) |
Keywords | ResPubID24414, Lao Tzu, Marx, epistemology, ignorance, economic theory, economic development, policy |
Citations in Scopus | 3 - View on Scopus |
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