Econ Study Guide

Econ Study Guide - Lee Blake Study Guide Chapter 1 Question...

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Lee Blake Study Guide Chapter 1 Question #1 Competing Theories of Knowledge Category Blank Slate Concept Paradigmatic Alternative Nature of Observation Descriptive Constructive Nature of Language Neutral medium Bias medium Nature of “the knower” Passive Active Nature of truth Objective, universal Subjective Blank Slate Theory of Knowledge -is often associated with empiricist philosophers. It imagines that the mind confronts the world directly. Individuals have experiences from which they generate the ideas. Your mind reflects the world as if it was a mirror. According to this reasoning everyone can in principal do the same experiments. Therefore all thinkers should eventually arrive at the same ideas. Conventional economics theory tends to adopt blank slate epistemology. It thinks of itself as a science whose conclusions command belief. A paradigm is a conceptual framework, a context for organizing thought. Paradigmatic Theory of Knowledge- argues that the mind never perceives the world directly or experiences sensations innocently, that is, untranslated, or unmediated by a person’s prior conceptual framework. Everyone is always wearing theoretical spectacles and thinking within some paradigm. Observation and thinking are active rather than passive process. Neoclassical Concerns - economic growth, balancing the supply and demand and a need to continually raise the price index, Maximizing utility and GDP Heterodox Economics - distribution of wealth and income, environmentally sustainability, quality of work (well-being), Economic security Chapter 2
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Question # 2 Gross Domestic Products Neoclassical textbooks devote little to analyzing the nature and causes of human well-being. The do
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This note was uploaded on 03/28/2011 for the course COMM 101 taught by Professor Fishwick during the Spring '11 term at Roanoke.

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Econ Study Guide - Lee Blake Study Guide Chapter 1 Question...

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