ABSTRACT

Before considering an illustrative example of economic explanation consistent with the perspective I have been defending I ought to consider the status of any results that may be achieved. I have acknowledged throughout (and in Chapter 5 at length) that our theories are fallible and historically transient. I want now to dispel any impression this may give that the possibility of objective truth in knowledge is thereby precluded. This seems important. For a belief in the impossibility of true or even realistic theories could itself encourage the idea that acknowledged fictions of the sort which prevail in contemporary economics are sustainable after all.