What is the role of economic theory? Is there any common ground among economists of different schools concerning the role or roles to be played by theory? These were the basic questions in my mind when I undertook to edit a book on the subject. I thought it might prove insightful to exam ine the views of distinguished economists of very different persuasions and perspectives on the discipline in general. Accordingly, I invited economists from many of the major schools or groups in contemporary economics to contribute essays. Some were uninterested; some were too busy; but many were more than...
What is the role of economic theory? Is there any common ground among economists of different schools concerning the role or roles to be played by the...