This paper discusses issues to do with the empirical basis of modern economics and points towards the need to look more closely at the 'homogeneity assumption' that underpins much economic theory. It argues that severe problems currently prevent economics from becoming more persuasive to both...

This paper discusses issues to do with the empirical basis of modern economics and points towards the need to look more closely at the ‘homogeneity assumption’ that underpins much economic theory. It argues that severe problems currently prevent economics from becoming more persuasive to...