Memorial to Léon H. Dupriez

Université catholique de Louvain

(Belgique)

                           by Prof. Paul L. Mandy
 

• The seven pillars of Dupriez’s Epistemology according to himself

 
5. Economic  explanation covers all human acts and institutions which are dominated by economic motives and are formally represented by general interdependence or general equilibrium between economic agents. The Business Cycles are the systematic representation of this  interdependence in time and in space


"Every human act can, logically, be scrutinised by an economist in order to see if it falls, in certain aspects, under the laws of economics. It thus becomes evident that many actions are governed,  or at least are dominated, by economic motivations, whilst others are not at all, or only slightly so.”
 

Philosophie des conjonctures économiques, 1959, p. 10


 "Given that human motives are not all purely economic, historical interpretation of facts becomes more complicated. However, observation shows that we can base ourselves on explanatory sequences appertaining to economic motivations, because “economicity” dominates in the decisions.  Reality is not transformed solely because of decisions within markets; but these economic decisions do, by and large, have a significant impact, despite certain deviations, because they are systematic in the face of random influences. Economic order therefore manifests itself in the transformation of reality, without determining it. It is through this double aspect that the systematic and well argued sequences of the business cycles reflect the “tâtonnement” processes of the marginal analysis.”
 

Philosophie des conjonctures économiques, 1959, p. 23-4


 "General interdependence is a kind of explanation that implies the sustainment of a certain coherence between phenomena. It does not however imply anything about the direction in which the economy moves. Points of comparison are lacking.”
 

Des mouvements économiques généraux, 2e éd., 1951, t.1, p. 205


"The timeless theory of which, logically, the principle aim is the correct support of general economic movements i.e. the sequence of successive decisions connecting each with other, is found in the general interdependence of Walras. In effect, all new events prompt decisions which lead towards coherences: in both respects, coherence within the abstract system initiating attractions towards equilibrium the more stronger, the more the instantaneous positions are moving away from equilibrium.  Also the coherence of the real world where men find greater reason to react when economic relations are far removed from their everyday norms. In so much as it is a concept which encompasses an interpretation of reality, general interdependence principally respects the monism of economic explanation, the unity of the principle of coherence which guides  decisions  taken for social adaptations.”
 

Philosophie des conjonctures économiques, 1959, p. 19


  "When applied to movements towards economic equilibrium, “operational time” defines the rhythm of adjustment in accordance with a network of influences.  The concept serves principally as a way of defining longer or shorter period of adaptation… Each works in conjunction with the other… This concept of “operational time” was elaborated by A. Marshall in Principles of Economics,  book V, chapter V.

When applied to actions, the distinction between operational times covers decisions taken jointly when these decisions concern, on the one hand, the developments and, on the other hand, the adjustments. The effects of these adaptations are accomplished in successive periods."
 

Philosophie des conjonctures économiques, 1959, p. 489-90

Displayed on October 13th, 2001