This paper presents an attempt to look at the evolution of contemporary economics using the category of beauty. Many scientists from different research areas such as physics, mathematics and humanities can relate to this category but economists seldom do. In this study links between beauty and economics have been discussed in relation to three areas of analysis: mission and social roles of economics, subject of economics and its methodology. Discussion presented in this paper refers to many streams of economics and other sciences. The search for beauty in economics is justified and plays an important role as a source of inspiration and also contributes to enriching the methodological foundations of contemporary economics.
The article demonstrates the significance of the L. von Mises 'Human Action' for modern economic science. Following the words of Vernon Smith, Noble Prize Winner, the author argues that even though economics has been developed since the publication of 'Human Action' (1949) the basic message of that book remains intact. He is going to show how it helped Mises to develop his own unique paradigm by which he turned away from his Austrian predecessors (Menger and Boehm-Bawerk). In consequence he also stands in opposition to modern schools of thought. To demonstrate this the author is going to emphasize four most important pillars: imputation theory, monetary theory, economic policy approach and economic methodology.
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.