Available open access digitally under CC-BY-NC-ND licence. Following on from The Hand Behind the Invisible Hand and A Realist Philosophy of Economics, this new book drawn from Karl Mittermaier's writings examines the intricate relationship between economic theory and real-world economic experiences. Despite the centrality of subjectivism in both philosophy and economics, these fields have often overlooked each other's insights. Mittermaier challenges this disconnect, advocating for a shift from deterministic models to a more reflective approach in economics. He examines the historical, methodological and philosophical dimensions of economic theory, highlighting its struggle to connect economic theory to empirical data and individuals' lived experiences. Originally penned between 1979 and 1982 and now published posthumously, this work remains a crucial contribution to contemporary economic discussions.