What Is the Purpose of Economic Theory?
May 7, 2024 ·
8m 13s
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Description
Mainstream economists believe that economic theory is valid when it “predicts” economic actions or trends. Austrian economists, however, say that the purpose of economic theory is to explain economic events.Original...
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Mainstream economists believe that economic theory is valid when it “predicts” economic actions or trends. Austrian economists, however, say that the purpose of economic theory is to explain economic events.Original Article: What Is the Purpose of Economic Theory?
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Information
| Author | Mises Institute |
| Organization | Chad Parish |
| Website | - |
| Tags |
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