World Affairs: The Journal of International Issues
  • Year: 2018
  • Volume: 22
  • Issue: 4

Economic laws and the dynamics of the economic system

  • Author:
  • Nicolas Laos
  • Total Page Count: 18
  • Page Number: 10 to 27

Online published on 23 January, 2019.

Abstract

After briefl y surveying the history of the discipline of economics this article highlights the attempts of successive practitioners of the science to defi ne laws of human behaviour and market processes. It then points out the weaknesses and fallacies of some socioeconomic laws that rest on a subjective positivist epistemology inspired by Newtonian mechanics, which is often inadequate to account for the complexity of living organisms and psychological agents. As a corrective, the author formulates a theory of sustainable creativity based on the recognition of a dynamic continuity between the nature of consciousness and the structure of physical reality.