Why Economics is Not Yet a Science

Alfred S. Eichner, Professor of Economics at Rutgers University, is the author of The Megacorp and Oligopoly and the editor of A Guide to Post-Keynesian Theory.

WHAT DO WE MEAN BY ASKING WHETHER ECONOMICS IS A SCIENCE? MODERN EMPIRICISM AND QUANTUM-LEAP THEORIZING IN ECONOMICS, IDEOLOGY, METHODOLOGY, AND NEOCLASSICAL ECONOMICS, A BEHAVIORAL THEORY OF ECONOMISTS’ BEHAVIOR, THE DEVELOPMENT OF CONTEMPORARY MAINSTREAM MACROECONOMICS: VISION, IDEOLOGY, AND THEORY, HOW ECONOMISTS MISUSE MATHEMATICS, INSTITUTIONAL ANALYSIS: TOWARD PROGRESS IN ECONOMIC SCIENCE, WHY ECONOMICS IS NOT YET A SCIENCE