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Why Capital Controversies Occur Repeatedly: A Methodological Interpretation

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dc.contributor.authorHong, Keehyun-
dc.date.accessioned2015-11-02T09:20:20Z-
dc.date.available2015-11-02T09:20:20Z-
dc.date.issued2015-07-
dc.identifier.citationSeoul Journal of Economics, Vol.28 No.3, pp. 285-310-
dc.identifier.issn1225-0279-
dc.identifier.urihttps://hdl.handle.net/10371/94459-
dc.description.abstractThis study explains the causes of capital controversies that occurred thrice in economic history, namely, at the turn of the 20th century, in the 1930s, and in the 1960s. Recurrence of controversies seeks answers from various theoretical frameworks. Differences between the Classical and Neoclassical schools are used to explain such controversies. The former explains long-period position using cost-of-production theory, hereas the latter explains short-run equilibrium using demand-and-supply theory. Results reveal neglected

aspects of the controversies, i.e., methodological positioning. Hence, controversies result from differences in the methodologies of scientific approaches, i.e., deductionist vs. inductionist and/or individualist vs. holistic.
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dc.language.isoen-
dc.publisherInstitute of Economic Research, Seoul National University-
dc.subjectCapital controversies-
dc.subjectDeduction vs. Induction-
dc.subjectIndividualist vs. Holistic-
dc.titleWhy Capital Controversies Occur Repeatedly: A Methodological Interpretation-
dc.typeSNU Journal-
dc.contributor.AlternativeAuthor홍기현-
dc.citation.journaltitleSeoul Journal of Economics-
dc.citation.endpage310-
dc.citation.number3-
dc.citation.pages285-310-
dc.citation.startpage285-
dc.citation.volume28-
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of Economics (SJE)Seoul Journal of Economics vol.28 no.1~4 (2015)
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