Question: 1- For example, can we test the basic premises of (neoclassical) economics, let's say firms are profit maximizers? If so how? If not, then should

1- For example, can we test the basic premises of (neoclassical) economics, let's say firms are profit maximizers? If so how? If not, then should we reject the theory? 2- Friedman (1953) states that "the theory should be evaluated not by the realism of the assumptions, but by its predictive power for the class of phenomena it aims to explain"... What is Hausman's view on this discussion?

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