By Adolfo Figueroa
Centuries of financial progress have proven that the capitalist approach is
technologically very revolutionary; socially, notwithstanding, it isn't so. Inequality is one among the
persistent good points of worldwide capitalism. Why does the capitalist method function in this
The present paradigm in economics has made major development in explaining
capitalism; in spite of the fact that, there are a few proof that the paradigm can't clarify, because it will be
shown during this ebook. the present paradigm may be outlined because the rules that are
contained within the college textbooks which are utilized in economics classes round the
world; as a result, its effect on public rules is big. these ideas are
based on neoclassical and Keynesian fiscal theories, one for the long term and the
other for the fast run research of capitalism. either theories should be referred to as standard
economics during this book.
This publication provides a brand new financial thought of the capitalist process. This new
theory could be capable of clarify the evidence that normal fiscal 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 thought might be offered step-by-step during this creation. This advent may
then be noticeable because the synopsis of a play in regards to the nature of social family members in a capitalist
society, as a way to then be constructed absolutely within the book.
Adolfo Figueroa, a Peruvian economist …has written a breathtakingly formidable 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 types able of
explaining diversified elements of the capitalist approach, but in addition a unified version from which
each of those detailed instances might 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 may turn into required analyzing for economics
students in the course of the global.
Read Online or Download A Unified Theory of Capitalist Development (Enlarged and Revised Edition) PDF
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Additional info for A Unified Theory of Capitalist Development (Enlarged and Revised Edition)
The third statement is about what the data say. Because the beta proposition coincides with empirical data b, the theory cannot be rejected. Fact b does not refute the theory. Moreover, the theory explains why the leaves of trees form this type of canopies, that is, the why-question is solved. In the case of falsifying several theories at the same time, given data set b, some theories will be false and some will be consistent. Those theories that survive the entire process of falsification will become the valid theories.
Due to the use of abstraction, it may not fit all the observed cases. Therefore, the refutation of a theory needs to be based on statistical analysis. The empirical prediction of a theory must then be confronted against the relationship between the average values of the observed variables. If a theory on income inequality predicts that incomes of workers depend directly upon their years of schooling, this prediction is refuted by facts if the average incomes are inversely related to average years of schooling; it is not refuted if the relationship is direct.
If the theory does not fail, it can be accepted; if it does fail, then ‘ model fails, but not the theory. Using auxiliary assumption A‖, another model ( ‖) is constructed and submitted to the falsification process; if it fails, then another model is constructed, and so on, until model n . If the n models fail, then the theory fails and a new theory is constructed, and the algorithm is applied again. 2. Let 1 and 2 be now two models of a theory called theory. The falsification algorithm is now applied to the models.