Economic Epistemology and Postmodern Critiques

Abstract

Abstract

This article aims to criticize economic epistemology through the concept of postmodernism. Criticism demonstrates a narrow essence of economics due to its adherence to scientism.  In addition, the representation of human behaviors in economic theory is unreasonable as it clings to the assumption of economic rationality. In fact, factors determining economic behaviors and phenomena are not based on a rigid determinism of rationality. Postmodern critiques argue that the articulation of economics should pursue open-ended body instead of the body of economic rationality. The article further persuades audiences to critically examine the body of behavioural economics in the future.

Keywords: Postmodern, Economics, Epistemology