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Additional resources for Beyond Positive Economics?: Proceedings of Section F (Economics) of the British Association for the Advancement of Science York 1981

Sample text

And yet - he must acknowledge that a high (or low) correlation coefficient may contribute useful information merely by posing the question why it is so , and a logically clear model based on 'false' assumptions may conceivably enlighten us as to how the world does not work (cf. Mises, 1966, pp . 236-7, on the method of imaginary constructions). Hayek (1979) has recently doubted whether the extensive discussion of scientific method has led to a great improvement in the quality of scientific work.

Through time in the face of an unpredictable future . To appreciate this point, consider what would happen to all the multi-part electricity tariffs if someone invented an effective generator small enough to be purchased and operated by individual households . ) An alternative and more useful approach is to attempt to predict changes in the behaviour of enterprises when institutional conditions change. Thus, nationalisation changes the decision authority, property rights, rewards and penalties, of the various 'actors' contributing to production, as well as changing the cast of actors itself.

It gives to some, by denying to others, of his works of imagination a seriousness, an epistemic standing of a particular kind and quality, it gives them possibility, freedom from known obstruction. Imagination may be said to have two levels, two intensities. At one level, it is merely pictorial, a cloud-scape . At the other it has the power to enter the counsels of the mind, to present itself as something weighable, judgeable, pursuable. Choice of action decides which works of the chooser 's imagination shall be lifted to this second level.

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