INTERPRETATIONS OF PAY STRUCTURE
Abstract
Those who would become economists today have the choice of two ideologies, the one maintaining that the inner laws of the capitalist system are equilibrating and maximizing; the other, that they doom that system to self‐destruction. In the natural sciences, a theory is ‘a hypothesis that has been confirmed or established by observation or experiment, and is propounded or accepted as accounting for the known facts.’ (Third definition in the Shorter OED.) By contrast, in economics it is used, ‘In loose or general sense: A hypothesis proposed as an explanation; hence, a mere hypothesis, speculation, conjecture; an idea or set of ideas about something …’ (OED fifth definition).
Citation
Routh, G.G.C. (1974), "INTERPRETATIONS OF PAY STRUCTURE", International Journal of Social Economics, Vol. 1 No. 1, pp. 13-39. https://doi.org/10.1108/eb013756
Publisher
:MCB UP Ltd
Copyright © 1974, MCB UP Limited