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Article: Economics As A Science of Human Behavior: Towards A New Social Science Paradigm.
- Article from:
- Journal of Economic Issues
- Article date:
- March 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Association for Evolutionary Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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This volume arises from Bruno Frey's dissatisfaction with the excessive formalism dominating economics today. He reminds us that there exits "another type of economics . . . which is surprisingly little known". However, his "new" paradigm is an attempt to extend the basic neoclassical methodology to new areas and to make its assumptions more realistic. The revolutionary nature of the book is oversold for two reasons. First, the approach he takes is not quite as new as the title implies and is certainly fairly well known, if not always widely used. Second, the "new" paradigm he pursues is one of the mildest in terms of its proposed changes. There are several other, more ...