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Path Dependence and Narrative Economy: Paradoxality of Economic Objectivity

Path Dependence and Narrative Economy: Paradoxality of Economic Objectivity

Journal of Economic Regulation, , Vol. 11 (no. 2),

This article advocates a kind of bridge between narrative understanding of Economics and psychology economists and a bridge to the philosophy of economic science. The fact that economists used to think that they think more objectively than representatives of other social Sciences, as they generally explore the problem of choice and perspectives of other social Sciences in one way or another will be connected with choice. But the economics is not a static science, it is dynamic. Moreover, it is dialectical. So doubtful will be put in economics some boundaries. Economists in competition with sociologists, ethnologists, political scientists and other colleagues, as times violate the scientific nature of Economics, speaking about the objective, measuring its static units. Developing various new discourses in the economics it is important not to forget that there is the economics, it is important to remember about the true philosophy of economics. Example of narrative economics is very significant to realize the fact that the economics uses a dialectical form of knowledge, because of narrative economics – the product of economic imperialism, and consequently, an interdisciplinary field of study that, at least, tells us that the economic discourse may not have a single beginning. Moreover, the narrative economics is the continuation of another economics discourse of institutional economics. In particular, due to Path dependence. Revealing the narrative economics in this case is the fact that it has many beginnings, therefore, erroneous to assert that the economy uses the metaphysical forms of knowledge. The task of this article to dispel the myth of the “objectivity” of economists, forced to think about the true nature of economics and also to explain the origin of narrative economics, as a consequence opposite to the position of the economists of the phenomenon.


Keywords: narrative economics; institutional economics; philosophy of economics; dialectics

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