Limitations

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Limitations

This deductive method has the merit of being simple, effective and certain, only if the underlying assumptions arc valid, This is a very big. IF indeed. More often than not, the assumptions turn out to be untrue of only partially . The application of deductive method is thus misleading.  This method makes Economics dog  for it refuses to admit that there can be some flaw in the premises.

The Deductive Method proves particularly dangerous II hen universal validity is claimed for  localisation based on imperfect Of incorrect assumption, and when attempts arc made to fontanel practical policies of a nation in the light of these  realization.

In view of the above shortcomings of the deductive method, the  man historical school of economists bitterly attacked the classical economists for their indiscriminate u c of this method Jawing hasty conclusions based on inadequate and incorrect data. It was pound out that the use of this livelihood led to conclusion which were guru Ucayali.

Professor Gide pointed out that these economists often mistook the abstraction for the reality. In a world of continuing economic changes, their conclusions had only a limited application. As Nicholson put it, ‘The great danger of the deductive method lies in the natural aversion to the labour of verification . No wonder that thc historical school of economists came to advocate the use of inductive method in preference to the deductive method

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Limitations