Abstract or Introduction
One of many economic theories claims, that any kind of government intervention in competitive
markets prevents the market from reaching its equilibrium and thus causes a smaller economic
surplus and an inefficient market (McDowell et al., 2006). But is it really true? Do
politicians consider this assumption when making decisions? Actually, they often do not. The
point is, that nobody really knows the “truth” about economic theories, because economists
often disagree in their theories and predict different outcomes, as Klamer (2008) describes.
This fact leads many people to claim that (business) economics is not a real science. This paper
will debate this statement and find an answer to the problem if economics is a science or
not.
- Quote paper
- Christoph Butz (Author), 2008, Is (business) economics a science?, Munich, GRIN Verlag, https://www.grin.com/document/178104
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