Intellectual Path Dependence in Economics - 9781138016170

Taylor & Francis

Intellectual Path Dependence in EconomicsWhy economists do not reject refuted theories\nAuthor(s): Altug Yalcintas\nFormat: Hardback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9781138016170, 978-1138016170\nSynopsis\nIs economics always self-corrective? Do erroneous theorems permanently disappear from the market of economic ideas? Intellectual Path Dependence in Economics argues that errors in economics are not always corrected. Although economists are often critical and open-minded, unfit explanations are nonetheless able to reproduce themselves. The problem is that theorems sometimes survive the intellectual challenges in the market of economic ideas even when they are falsified or invalidated by criticism and an abundance of counter-evidence.\n\nA key question which often gets little or no attention is: why do economists not reject theories when they have been refuted by evidence and falsified by philosophical reasoning? This book explores t.