Ceteris Paribus allows dealing with reality as if it would stand still. This allows managing conjunctures without considering the long term effects. Ceteris Paribus “behavior” is necessary to deal with survival conjunctures and it has to be accepted that when it is used a mortgage on the future has been installed.
Ceteris Paribus is, in some way, the stepfather of fallacious reasoning. “Other things being equal” is the translation. But the world is in constant movement. That is why things are never equal.
Econometrics basically approach reality in two dimensions. Unicist ontology describes reality using a volumetric approach based on three dimensions: a given purpose, an action function and an energy conservation function.
This integration solves the problem of fallacies based on Ceteris Paribus reasoning. The unicist approach defines the unified field in which the conclusions of adequate econometric models deliver reliable results.
Access the content of the book “Introduction to Unicist Econometrics” at the Unicist Library: http://www.unicist.com/books-pages/en/unicist_econometrics_en8.php
NOTE: The Unicist Research Institute was the pioneer in complexity science research and became a global decentralized world-class research organization in the field of human adaptive systems. https://www.unicist.net/financials/wp-content/uploads/2012/05/turi.pdf