Peltzman, Sam - In: Journal of Law and Economics 54 (2011) S4, pp. 15-15
Ronald Coase was skeptical that economics is a positive science in the sense made famous by Milton Friedman. According …, and much of their empirical work does not test theory. Coase’s view is that we seek (and find) truth in economics via a … competition of ideas that uses an eclectic variety of methods. I argue that, as a description of what empirical economics is about …