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Business
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| Number of pages / Number of words: |
10 / 2664 |
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The function of economic theory, according to the neoclassic theorist Friedrich von Wieser, consists in
"scientifically explicating and developing the content of common economic experience. The consciousness of every economically active human being provides him with a fund of experiences that are the common possession of all who practice economy...
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The consciousness of every economically active human being provides him with a fund of experiences that are the common possession of all who practice economy. These are experiences that every theorist already finds within himself without first having to resort to special scientific procedures†[ 7 ]...
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3. Cases where traditional economics doesn’t work
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