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Qualitative Economics: The Science Needed in Economics

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The Next Economics

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Abstract

This chapter is about science from a book that on Qualitative Economics (Clark and Fast 2008), specifically building a science of economics, grounded in understanding of organizations and what is beneath the surface of structures and activities. Economics should be, as a science, concerned with its assumptions and how to develop and formulate theories of ideas and reality that produce descriptions of how to understand phenomenon that create experiences, hypotheses generation, and replicable data for prediction, which need to be connected to everyday business life. Economics has to start with a discussion involving the philosophy of science.

There is a “disconnection” between economics which focuses on statistical structures and universal laws from those that are in contrast with the everyday of life of business activity, which are processual and dynamic. This discussion is the central issue in the chapter and is discussed from the perspective of interactionism (Blumer 1969). It is a perspective developed from the lifeworld philosophical traditions, such as symbolic interactionism and phenomenology, seeking to develop the thinking of economics through the use of linguistics (Clark and Fast 1968).

The argument is that economics first of all is about two things; it is about interaction and it is about construction. If we are not able to understand and describe how people interact and construct, we cannot develop any theory of economics or understand human dynamics that is scientific.

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Notes

  1. 1.

    That is the general understanding of man.

  2. 2.

    Note also Husserl (1962) concept of intentionality.

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Author information

Authors and Affiliations

  1. Department of Business and Management, Aalborg University, Aalborg, Denmark

    Michael Fast

  2. Clark Strategic Partners, Beverly Hills, CA, USA

    Woodrow W. Clark II Ph.D.

Authors
  1. Michael Fast
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  2. Woodrow W. Clark II Ph.D.
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Correspondence to Michael Fast .

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Editors and Affiliations

  1. Clark Strategic Partners, ABC, Beverly Hills, 90209, California, USA

    Woodrow W. Clark II

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Fast, M., Clark, W.W. (2013). Qualitative Economics: The Science Needed in Economics. In: Clark II, W. (eds) The Next Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-4972-0_4

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