What is the difference between a system in which subjective and objective are rigidly distinct, and the subjective has primacy; and a system in which subjective and objective are continuous with one another, and neither has primacy? What are the implications of this difference for economic theory?

Economic theory

What is the difference between a system in which subjective and objective are rigidly distinct, and the subjective has primacy; and a system in which subjective and objective are continuous with one another, and neither has primacy? What are the implications of this difference for economic theory?

In thinking about these concepts, be precise and rigorous; use your own method to work through them (but be sure that it is precise and rigorous); don’t quote use your own words to express your own thoughts.