Prague Economic Papers 2016, 25(4):494-506 | DOI: 10.18267/j.pep.571

The Economic Approach to Science

Marek Loužek
Faculty of Economics, University Economics in Prague, Prague, Czech Republic

The paper poses the question whether the economics of science could be the key to economic methodology. First, the sociology of science, which tries to put science in social context, is described. Then, the economic approach to science inspired by Bartley, Wible, Tullock, Stigler and Becker is explained. We point out that knowledge originates in the competitive process of scientific criticism in similar way as economic wealth originates in the competitive market process and the competition among many individuals.

Keywords: sociology of science, philosophy of science, economics of science
JEL classification: A11, A14, I21

Published: January 1, 2016  Show citation

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Loužek, M. (2016). The Economic Approach to Science. Prague Economic Papers25(4), 494-506. doi: 10.18267/j.pep.571
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