Thomas Kuhn, a Philosopher of Science, Argues That Truth Is

question 27

True/False

Thomas Kuhn, a philosopher of science, argues that truth is relative, in that it is dependent on the paradigm through which one understands the world.

---

Definitions:

Supply-side Economics

Supply-side Economics is a macroeconomic theory that argues economic growth can be most effectively fostered by lowering taxes and decreasing regulation to increase production.

Milton Friedman

An American economist and Nobel laureate renowned for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

Rational Expectationists

Economists who believe that individuals make decisions based on their rational outlook, available information, and past experiences.

Monetary Policy

The process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.