Economics, History and Methodology
Chapter from the book: Kırcı Çevik, N. (ed.) 2023. Research on Social Sciences- I.

Gökhan Oruç Önalan
Karabük University

Synopsis

In the theoretical framework, capitalist thought believes that the functioning of the market of perfect competition in the economy will effectively direct the economy and ensure the unity of supply and demand at full employment equilibrium. For this reason, the state should not intervene in the functioning of the economy in any way. Therefore, economic logic, like the laws of physics, etc., has universal validity, and therefore the goals and instruments of economic policy are the same for all economies, regardless of their level of development. However, when we look at the issue from the perspective of reality, it becomes possible to say that people may behave irrationally for some reasons other than the consideration of economic interest. Moreover, these behaviors cannot be isolated from the dynamics of the society in which the individual lives.

How to cite this book

Önalan, G. O. (2023). Economics, History and Methodology. In: Kırcı Çevik, N. (ed.), Research on Social Sciences- I. Özgür Publications. DOI: https://doi.org/10.58830/ozgur.pub96.c445

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Published

March 25, 2023

DOI