Economics without Time: A Science blind to the Forces of by Graeme Donald Snooks (auth.)

By Graeme Donald Snooks (auth.)

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Extra info for Economics without Time: A Science blind to the Forces of Historical Change

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Intellectual games, however, are not of interest to the realist because they appear to have little purpose in themselves, or because they tell them nothing directly about reality. Reinforcing their set of preferences is their lack of comparative advantage in playing games. Their comparative advantage is in discerning complex relationships in reality or, in other words, discovering order in the chaos of the real world. In contrast to their opposite number, the realists generally take longer to reach their full potential, largely because of the experience and maturity required to do so.

20 The latter view is more balanced. With the simultaneous but independent development of the marginal theory of value by W. S. Jevons (1835-82) in England,21 Carl Menger (1840-1921) in Austria, and Leon Walras (1834-1910) in Lausanne in the 1870s, deductive economics took on an international character. 22 What is important here for our purposes is not the nature of the theoretical contribution in microeconomics, but the nature of its methodological underpinning. It is generally recognised that this period marked the watershed between political economy and economics - between, in other words, the art and the science of the discipline.

The talents of gameplayers are obvious. At all stages of life they demonstrate an ability to solve mathematical and logical problems, and to play 'intellectual' games. At school they are regarded as 'bright', and at university they are seen as the 'best' students. This type of personality also receives more general recognition than other intellectual types from the public. Although the general population may not excel at gameplaying, it is something they enjoy (crosswords, quizzes, computer games, chess and so on) and they can recognise and appreciate the abilities required to excel at it.

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