2023
DOI: 10.3390/philosophies9010001
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Definition of Economics in Retrospective: Two Epistemological Tensions That Explain the Change of the Study Object in Economics

Daniel Durán-Sandoval,
Francesca Uleri

Abstract: Throughout history, schools of economic thought have defined political economy—or economics—and its object of study in multiple ways. This paper reflects on the definitions of economics by schools of economic thought and also proposes the concepts of value and scarcity as key concepts to explain the differences between them. The most important findings of the paper are: (a) the ontological and epistemological characteristics of the concept of value and scarcity have shaped the definitions of economics; (b) the… Show more

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