The Social Science Library » The Methodology of Economics and the Survival Principle Revisited and Revised: Some Welfare and Public Policy Implications of Modeling the Economic Agent

The Methodology of Economics and the Survival Principle Revisited and Revised: Some Welfare and Public Policy Implications of Modeling the Economic Agent

Author(s)	Altman, Morris
Abstract	The focus of this paper is on the survival principle, as articulated by Milton Friedman, that dominates the methodology of the conventional wisdom either explicitly or implicitly. The survival principle is revised applying the behavioral approach to economics, which differs fundamentally with Friedman’s methodology. This discussion is contextualized by a comparison of the different approaches to the modeling of economic agents and the substantive implications of this for theory and public policy and thereby for economic welfare and economic justice.
IssueNo	4
Pages	427-449
Article	Access to Article
Source	Review of Social Economy
VolumeNo	57
PubDate	December1999
ISBN_ISSN	0034-6764
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The Methodology of Economics and the Survival Principle Revisited and Revised: Some Welfare and Public Policy Implications of Modeling the Economic Agent

Economic Policy