HomeDLSU Business & Economics Reviewvol. 13 no. 2 (2002)

Popper vs The Armchair Economists

Gerardo Largoza



ARE ECONOMISTS GUILTY of not practising what they preach? Do they pay no more than lip service to the importance of constructing falsifiable theories? Does much of what passes as science among the economic illuminati actually fail to meet the standards of proper (Popperian) methodology? These are the questions posed by Mark Blaug in his 1980 text, "The Methodology of Economics (Or How Economists Explain)".