The last decade witnessed an unprecedented annual growth of the literature dealing with the philosophy of economics,as well as the first signs of an institutionalization (conferences, an international journal) of the philosophy of economics as a scientific subject in itself - in particular in the U.S. In 1981 a meeting took place with participants mainly of European "continental" origin. In July 1987, we organized a second conference "Philosophy of Economics II" at Tilburg Uni versity, The Netherlands, mainly aiming at the establishment of first contacts between the middle-European group and researchers from the U.S. The present volume contains the papers presented at this conference. Philosophical thought on economics in recent years split up in many different streams, two of which are represented in the larger part of this volume. The first of these streams was formed by a group of researchers mainly from middle-Europe, who make empirical studies of the logical structures of the different theories as they find them presented in economic literature. Two methods prevail here. First, the structuralist method, as exemplified in the writings of Sneed, Stegmiiller and others, of describing the object of a theory as a set of ("partial potential") models. Such models consist of sets and relationships between these sets, which represent the concepts used in the theory.
This insightful Modern Guide offers a broad coverage of questions and controversies encountered by contemporary economists. A refreshing approach to philosophy of economics, chapters comprise a range of methodological and theoretical perspectives, from lab and field experiments to macroeconomics and applied policy work, written using a familiar, accessible language for economists. Highlighting key areas of methodological controversy, the Modern Guide looks at estimating utility functions in choice data, causal modelling, and ethics in randomised control trials. Chapters further explore topical issues, including: economists' attitudes to other disciplines; gender bias in economic research; methods of modelling social influence in economics; behavioural welfare economics; anti-poverty policy controversies; and inflexible reliance on DSGE models in macroeconomics. Furthermore, it explores the implications of the last financial crisis for macroeconomic confidence, and ways to adapt abstract theory to everyday policy advice. Avoiding philosophical jargon, and with the majority of chapters written by economists, this Modern Guide will challenge economists and scholars of philosophy of economics to engage with different approaches to the topic. This will also be a useful tool for policy makers administering nudges, development initiatives, macro-forecasting and monetary policy.
Philosophy of Economics: A Heterodox Introduction provides an introduction to the philosophy of economics through the prism of heterodoxy. Heterodox economics covers a range of approaches and schools of thought but what they have as a common denominator is the conviction that economic phenomena cannot be understood, and thus must not be studied, in isolation from their relevant context. Conversely, the current form of neoclassical economics emerged from the conviction that there is something like economic rationality sui generis which can be treated independently from all other aspects of our world, social or natural. Heterodox approaches challenge this conviction, from a variety of angles: the economic actor is not isolated, but lives in society which shapes him; market goods are only one kind of goods among others, constituting a larger set with ambiguous and shifting inner frontiers; production of goods takes place within nature, is subjected to physical laws, and induces in most cases ecologically problematic fluxes of matter (e.g. waste); finally, the whole economic process in general is not in equilibrium, but shows secular trends through which it is connected to the historical world. This book demonstrates the vitality of these heterodox challenges from a philosophical point of view because not only do they formulate new hypotheses within economics, but they challenge economic theory on a much more fundamental level: how is the economy situated in the world, and which are the right methods for its investigation? This book is an ideal introduction for anyone seeking alternative or critical perspectives on the philosophy of economics and economic theory.
This volume is the first comprehensive, cohesive, and accessible reference source to the philosophy of economics, presenting important new scholarship by top scholars.
This volume is the first comprehensive, cohesive, and accessible reference source to the philosophy of economics, presenting important new scholarship by top scholars.
This work shows that an econometrician with the proper understanding of economic theory and the right kind of questions can gain knowledge about characteristic features of the social world. It addresses varied topics in both classical and Bayesian econometrics.
This work shows that an econometrician with the proper understanding of economic theory and the right kind of questions can gain knowledge about characteristic features of the social world.
Feminist economists have demonstrated that interrogating hierarchies based on gender, ethnicity, class and nation results in an economics that is biased and more faithful to empirical evidence than are mainstream accounts. This rigorous and comprehensive book examines many of the central philosophical questions and themes in feminist economics including · History of economics · Feminist science studies · Identity and agency · Caring labor · Postcolonialism and postmodernism With contributions from such leading figures as Nancy Folbre, Julie Nelson and Sandra Harding, Toward a Feminist Theory of Economics looks set to become the book on feminist economics for some time to come and will be greatly appreciated by all those interested in gender studies, economic methodology and social theory.
This rigorous and comprehensive book examines many of the central philosophical questions and themes in feminist economics including · History of economics · Feminist science studies · Identity and agency · Caring labor · ...
This book sets out to encourage a debate about the role that economic theory and philosophy of economics can play. A good part of economics consists of theoretical developments which describe completely imaginary worlds and have no connections to actual market economies. If the purpose of theoretical and philosophical analysis in economics is to make a contribution to find out how modern market economies work and which kind of theoretical practice will be useful for the implementation of successful economic policies, a shift both in philosophy of economics and economics itself is needed. Exposing the ungrounded pretensions of the mainstream philosophy of economics, MarquEs' carefully argued book is a major contribution to the ongoing debate on contemporary mainstream economics and its methodological and philosophical underpinnings. Even those who disagree with his conclusions will benefit from his thorough and deep critique of the modeling strategies used in modern economics. Lars PAlsson Syll, MalmO University, Sweden Is 'mainstream philosophy of economics' only about models and imaginary worlds created to represent economic theories? MarquEs questions this epistemic focus and calls for the ontological examination of real world economic processes. This book is a serious challenge to standard thinking and an alternative program for a pluralist philosophy of economics. John Davis, Marquette University, USA and University of Amsterdam In recent decades economists have focused heavily on the development and use of models. In this scholarly but accessible book MarquEs clearly describes the limitations of this approach and suggests alternative directions. It is a valuable addition to the armoury of anyone concerned about the nature of mainstream economics. Stuart Birks, Massey University, New Zealand In this book Gustavo MarquEs, one of our discipline's most dexterous and acute minds, calmly investigates in depth economics' most persistent methodological enigmas. Chapter Three alone is sufficient reason for owning this book. Edward Fullbrook, University of the West of England
