The main purpose of this paper is to show how to create a (traditional) economic theory in the simplest possible way. By doing so, it will reveal some drawbacks of the traditional economic theory, because it has been built in an abstract manner. I will discuss also some of those drawbacks as well as a new approach to building a new economic theory which I have been proposing.
Kim, Paul, "How an Economic Theory is Created" (2018). Economics Papers and Presentations. 15.