The Dominion Covenant, General Introducion to The Dominion Covenant, pp. xv-xvi, Gary North
“Contrary to theological pietists and political liberals who deny that the Bible has much to say about econonmic theory and practice, it has so much material that I do not expect to discuss more than a fraction of it.
What I plan to do with this multi-volume  commentary is to lay the intellectual foundations for a restructuring of social science. Nothing less than this is acceptable to me as a lifetime goal. A comprehensive restructuring of every academic discipline is mandatory. The only model adequate for such a restructuring is the biblical covenant. Christian scholars must self-consciously adopt methodologica covenantalism as their epistemological foundation. Neither philosophical nominalism (individualism and subjectivism) nor realism (collectivism and objectivism) can serve as consistent, reliable foundations of human thought, including economics. This economic comentary can serve as a model for how other academic disciplines can and should be restructured. We need similar commentaries in many other fields.”
Epistemology [Mises Wiki]: is a branch of philosophy concerned with the nature of knowledge, how one obtains it, and what constitutes truth. More generally epistemology can be seen as the study of how we know. Epistemology has also been defined as the examination of the obstacles to knowledge, with its goal being to “remove sources of error, rather than to define the nature of truth”.
Epistemology is a major problem in economics. Because, in the social sciences, there is no way to isolate variables as one would in a laboratory, it is difficult to prove economic theories by empirical evidence. Therefore, Austrian economics uses deduction to infer economic principles from more basic, a priori principles. Also, the study of history is fraught with unprovable interpretations; there is no way to determine what would have happened if a variable (e.g. a government policy) had been different because the exact set of circumstances cannot be reproduced. Ludwig von Mises wrote a whole book, Epistemological Problems of Economics, on these matters.
- Daston L., & Galison P. “Objectivity”, 2010, page 377.
- Mises, Ludwig von. Epistemological Problems of Economics.