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This research examines the disconnection between theoretical assumptions and real-world economic scenarios.

Reappraisal of the Relationship Between Assumptions and Realities in Economics: A Perspective from the Social Science of Practice

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Theoretical critique highlights the gap between assumptions and realities in economics, proposing a practice-based approach.

This research examines the disconnection between theoretical assumptions and real-world economic scenarios.
Analyze the influence of Western scientism on economic theory.
Critique formalist epistemology using social science of practice.
Explore actor behavior through subjective and objective interactions.
Mainstream economics remains paradoxically entangled in assumptions versus empirical data.
The social science of practice offers valuable strategies for understanding economics grounded in cultural subjectivity.
Critiques of traditional formalist approaches open pathways for new epistemological frameworks.

Zhao et al. (2026) studied this question.

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