By Adolfo Figueroa
Centuries of financial development have proven that the capitalist approach is
technologically very innovative; socially, despite the fact that, it's not so. Inequality is one in every of the
persistent positive aspects of global capitalism. Why does the capitalist process function in this
The present paradigm in economics has made major growth in explaining
capitalism; besides the fact that, there are a few evidence that the paradigm can't clarify, because it will be
shown during this e-book. the present paradigm might be outlined because the rules that are
contained within the collage textbooks which are utilized in economics classes round the
world; as a result, its impression on public guidelines is gigantic. these rules are
based on neoclassical and Keynesian monetary theories, one for the longer term and the
other for the quick run research of capitalism. either theories could be known as standard
economics during this book.
This booklet provides a brand new financial conception of the capitalist approach. This new
theory might be in a position to clarify the evidence that ordinary financial may also clarify; yet it
will additionally clarify these proof that normal economics cannot.
In order to introduce the reader to this new view steadily, the principles of
the new idea could be awarded step-by-step during this creation. This advent may
then be visible because the synopsis of a play in regards to the nature of social kinfolk in a capitalist
society, in an effort to then be constructed absolutely within the book.
Adolfo Figueroa, a Peruvian economist …has written a breathtakingly bold book.
Physics remains to be suffering to combine in one unified thought the insights of general
relativity and quantum idea. Figueroa goals not just to construct partial versions able of
explaining diverse components of the capitalist process, but in addition a unified version from which
each of those specified instances should be derived. The reader must be very
blinkered to not agree that Figueroa is directly to whatever vital. Figueroa merits to
be learn, and in an awesome international this ebook could develop into required studying for economics
students in the course of the international.
Read or Download A Unified Theory of Capitalist Development (Enlarged and Revised Edition) PDF
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Extra info for A Unified Theory of Capitalist Development (Enlarged and Revised Edition)
As a social science, economics assumes that societies do not conform to an ontological universalism. Then economics could not generate conclusions that are valid for every human society, independent of place and time. The other extreme view, that economics is valid only for specific societies only, cannot be assumed either because economics cannot explain individual cases, only aggregates. The assumption made by economics about its scope lies in between. Economics has two types of assumptions on the economic process: one is general, common to all human societies, and the other is specific to particular types of societies.
For the theory to be 35 refuted, all models of the family must fail. This algorithm requires that the number of models be finite; that is, it requires that the theory can generate only a limited number of possible auxiliary assumptions. If all models fail, the theory fails, and a new theory is needed. The number of models of a theory must be finite if the theory is going to be falsifiable. How to justify it? The criteria utilized to construct models refer to the use of auxiliary assumptions. But what these assumptions are about?
The logic of this method is thus clear. A complex reality is reduced to an abstract process—where there is repetition, and where regularities in empirical relationships can occur—with the use of a theory (alpha propositions); from 31 the theory, empirical predictions are logically derived (beta propositions), which are falsifiable; the falsification is made through statistical analysis. If the beta propositions are consistent with facts, there is no reason to reject the theory, and it is accepted as valid; if the beta propositions are refuted by facts, then the theory is rejected and, thus, a new theory is constructed.