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Theoretical and Applied Economics
No. 12 / 2012 (577)

The double correctness

„Economic rationality is like the Shakespearean city of Verona in the excessive consummation of the relationship between economic theory and economic practice; they seek to one-up - both in expectance and feedback - the other's initiatives provoking the pleasure of risk taking.”

Cognitive mechanisms are, paradoxically, quite confused when they rely on parsimony. It was the simplification, for instance, coming from the determinism of economic theory and practice, which gave a much too univocal sense to the economicity as a state of rationality, with the practice-theory construct being left only with the chance of limiting itself to the sense given by the principle of efficiency. The mathematical reduction to absurdity, transposed into the formula of ceteris paribus sic standibus in Economics, has favoured the linear relation and the materialist perspective in the understanding of economic action.

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The double correctness
Marin Dinu

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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