Max Weber and “Practical Political Economy”

"And it makes precious little difference to the practical work of a theorist whether Mr. Methodologist tells him that in investigating the conditions of a profit maximum he is investigating 'meant meanings' of an 'ideal type' or that he is hunting for 'laws' or �...

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Bibliographic Details
Published in:Journal of contextual economics : Schmollers Jahrbuch 2020-04, Vol.140 (2), p.223-228
Main Author: Nutzinger, Hans
Format: Article
Language:English
Subjects:
20th century
Economics
Economists
Efficiency
Ethics
Ideal types
Laws, regulations and rules
Political economy
Public speaking
Weber, Max (1864-1920)
Workers
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Summary:"And it makes precious little difference to the practical work of a theorist whether Mr. Methodologist tells him that in investigating the conditions of a profit maximum he is investigating 'meant meanings' of an 'ideal type' or that he is hunting for 'laws' or 'theorems.' As a matter of fact, in the epoch of his ripest thought, M. Weber was not unwilling to declare that, in so far as his almost complete ignorance of it enabled him to judge, he saw no objection of principle to what economic theorists actually did, though he disagreed with them on what they thought they were doing, that is, on the epistemological interpretation of their procedure. Indeed, he was not really an economist at all" (Schumpeter 1954, 819).
ISSN:2568-7603
2568-762X
DOI:10.3790/schm.140.2.223