Practices by the extent of their agreement with a particular analytic
model. The model may consist of only a few assertions. Or it may be a
rigorously developed argument. In each case the method, of evaluation has
been to compare existing practices. With the more preferable practices implied
by the model or with some standard which the model implies all
practices should. Possess.The shortcoming of this method is that it ignores
a significant source of knowledge of the world namely the extent to,,, Which
the predictions of the model conform to observed behavior.
It is not enough to defend an analytical inquiry on the. Basis that its
assumptions are empirically supportable for how, is one to know that a
theory embraces all of the relevant. Supportable assiunptions?And how does
one explain the predictive powers of propositions which are based on vinverifiable
assumptions such as the. Maximization of utility functions?
Further how is, one to resolve differences between propositions which arise
from considering. Different aspects of the world?
The limitations of a completely analytical approach to usefulness are illustrated
.By the argument that income numbers cannot be defined substantively
that, they lack "meaning" and are therefore of doubtful. Utility. *
The argument stems in part from the patchwork development of accoimt -.
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