Economic Epistemology

Economic Epistemology explores how knowledge is created, evaluated, and applied in the field of economics. It examines the underlying assumptions, models, and methods that economists use to understand complex economic phenomena. This branch of philosophy questions how we know what we know about economies and the implications of different kinds of knowledge—such as empirical data versus theoretical frameworks. By scrutinizing these processes, Economic Epistemology helps clarify the strengths and limitations of economic reasoning, shedding light on how economic theories can influence policy-making and societal understanding of economic issues.