The approach taken to economics here is scientific. Conjectures and if possible theories will be worked out so that they make falsifiable statements and provide explanations of what is observed. In particular the links between the techniques of physics and economics will be explored.

However, it should not be concealed that the subject is fundamentally about human behaviour and one of the topics to be explored is how a mathematical theory can do this and what are the limitations. So economics is a singular subject in that it is about nothing but human behaviour, but it is also often highly mathematical. The economic theory that appears to be most widely in use by mathematically inclined experts, called neoclassical economics or general equilibrium, is like physics, in that it is based on a few simple principles, which lead to a rigorous mathematical formulation. This mathematical formulation leads to some basic theorems, which are taken by many to be a rough or approximate description of a well functioning economy.

The point is not to endorse the neoclassical formulation but to subject it to critical analysis. This lead to a fallibilist stance, that all economic theories are conjectural, the valuable one will provide insight that can be applied. The outcome is a pluralist approach that critically but positively assesses the options. This can be seen as a competition of ideas but consistency is also a requirement of a set of theories that can work together to allow the deduction of consistent results. This approach is taken by CORE’s The Economy 1.0.