Economic as a Theoretical Science and Its Relationship to the Historical and Pratical Economic Sciences – Part 1

  • Carl Menger
Keywords: Economics, Historical Sciences, Practical Sciences, Concrete phenomena, Practical phenomena

Abstract

The author argues that theoretical economics can not take the place of history or economic statistics in the pursuit of knowledge and the most comprehensive research in the field of history or statistics can not replace theoretical economics without leaving a vacuum in the system of economics. Understanding concrete phenomena of any kind whatsoever, must always distinguish the scientific basis of this understanding, ie, the theory or history of relevant phenomena; practical and theoretical understanding of economic phenomena should be distinguished, in particular, the economics theory.

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Published
2013-12-01
How to Cite
Menger, C. (2013). Economic as a Theoretical Science and Its Relationship to the Historical and Pratical Economic Sciences – Part 1. MISES: Interdisciplinary Journal of Philosophy, Law and Economics, 1(2), 375-386. https://doi.org/10.30800/mises.2013.v1.489
Section
Economics, Methodology and Praxiology