Economics Essays

In an experimental science like economics, if definitions are really made the preliminary point, then they are axioms, or pseudo-axioms. They can be stated to be patently obvious and not in need of certification, but in reality are neither of these.

The first core problem of economics occurs during daily experience. Experience, though, even day-by-day experience, cannot be seized without concepts. We have made use of notions like "economy", "manufacture", "profits", "salary", "allocation", "labor", and others. We did this without clearing up or defining them. Is that not a mistake not to have identified the notions first? In economics the dominance of definitions is rarely insisted on a outrance, but a lot of economists perform as though it were. They usually begin with questions such as "What’ hat is economizing?" or "What is production?" - Rather different questions from those we are inquiring. They provide first place to questions about notions but not to those about facts and their relations.

Questions of this sort make a student lost from the start. Definitions and questions about definitions may have no place at the onset of the study of economics, and they are generally no longer placed at the start of other sciences. A science is quite not capable at the start of its analysis to offer scientific definitions.

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