What’s the point of ceteris paribus? Or, how to understand supply and demand curves

Journal Article (Journal Article)

Philosophers sometimes claim that economics, and the idealizing strategies it employs, is ultimately unable to provide genuine laws of nature. Therefore, unlike physics, it does not qualify as an actual science. Careful consideration of thermodynamics, a well-developed physical theory, reveals substantial parallels with economic methodology. The corrective account of scientific understanding I offer appreciates these parallels: understanding in terms of efficient performance.

Full Text

Duke Authors

Cited Authors

  • Jhun, JS

Published Date

  • April 1, 2018

Published In

Volume / Issue

  • 85 / 2

Start / End Page

  • 271 - 292

International Standard Serial Number (ISSN)

  • 0031-8248

Digital Object Identifier (DOI)

  • 10.1086/696385

Citation Source

  • Scopus