An anthology of works on the philosophy of economics, including classic texts and essays exploring specific branches and schools of economics. Completely revamped, this edition contains new selections, a revised introduction and a bibliography. The volume contains 26 chapters organized into five parts: (I) Classic Discussions, (II) Positivist and Popperian Views, (III) Ideology and Normative Economics, (IV) Branches and Schools of Economics and Their Methodological Problems and (V) New Directions in Economic Methodology. It includes crucial historical contributions by figures such as Mill, Marx, Weber, Robbins, Knight, and Veblen and works by most of the leading contemporary figures writing on economic methodology, including five Nobel Laureates in Economics.
This 2006 book shows through accessible argument and numerous examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores rationality and its connections to morality. It argues that in defending their model of rationality, mainstream economists implicitly espouse contestable moral principles. Part II concerns welfare, utilitarianism and standard welfare economics, while Part III considers important moral notions that are left out of standard welfare economics, such as freedom, rights, equality, and justice. Part III also emphasizes the variety of moral considerations that are relevant to evaluating policies. Part IV then introduces technical work in social choice theory and game theory that is guided by ethical concepts and relevant to moral theorizing. Chapters include recommended readings and the book includes a glossary of relevant terms.
This book examines the nature of economic explanation. The author introduces current thinking in the philosophy of science and reviews the literature on methodology. He looks at the status of welfare economics, and also provides a series of case studies of leading economic controversies, showing how they may be illuminated by paying attention to questions of methodology. A final chapter draws the strands together and gives the author's view of what is wrong with modern economics. This book is a revised and updated edition of a classic work on the methodology of economics.
The only book on the market to include classical and contemporary readings from key authors in Philosophy, Politics, and Economics (PPE), this unique anthology provides a comprehensive overview of the central topics in this rapidly expanding field. Each chapter opens with an introduction that helps students understand the central arguments and key concepts in the readings. The selections encourage students to think about the extent to which the three disciplines offer complementary or contradictory ways of approaching the relevant issues. Philosophy, Politics, and Economics: An Anthology is ideal for undergraduate PPE programs and courses in political philosophy and political economy.
Toward an Inclusive and Emancipatory Social Science
Author: Christian Arnsperger
Category: Business & Economics
Economics is essential in today’s world, and yet mainstream economists are increasingly under criticism for not taking into account sufficiently many dimensions of real life, such as political and moral values, human development, spirituality, and people’s widely shared aspiration to live more liberated lives. This book offers a critical assessment of contemporary mainstream economics by showing that the discipline has become much too narrow and misses out on the full spectrum of human existence. The book presents a careful, detailed analysis of the limitations of neoclassical economics and of its post-neoclassical successors: behavioral economics, neuroeconomics, and experimental economics. It offers a deconstruction rooted in the "Integral" philosophy developed over the past three decades by the contemporary American thinker Ken Wilber. Distinguishing between exterior and interior dimensions of human existence, it suggests that economics could be made into a more inclusive and more emancipatory science if it started to truly honor the genuinely interior aspects of individuals and communities. Instead of remaining stuck in the limitations of post-neoclassical theory, we should make the move toward a new paradigm that, in the name of science, promotes objectivity as well as subjectivity, and material causality as well as existential awareness. The result is a highly expanded sense of relevance for economists, sociologists, and social scientists in general. Combining methodologies from systems science, brain science, ethno-methodology, and existentialism as well as from the great spiritual traditions of humanity, Christian Arnsperger delineates the requirements of a genuinely integral economics beyond today’s crippling reductionism.
Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk. But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster. Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown. Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability. In eConned, author Yves Smith reveals: --why the measures taken by the Obama Administration are mere palliatives and are unlikely to pave the way for a solid recovery --how economists have come to play a profoundly anti-democratic role in policy --how financial models and concepts that were discredited more than thirty years ago are still widely used by banks, regulators, and investors --how management and employees of major financial firms looted them, enriching themselves and leaving the mess to taxpayers --how financial regulation enabled predatory behavior by Wall Street towards investors --how economics has no theory of financial systems, yet economists fearlessly prescribe how to manage them
The rhetoric of economics has long claimed scientific objectivity, however the late, great economist Joan Robinson argued that ‘the purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.’ This unique book examines the use of rhetoric in economics, focusing on the work of Deirdre McCloskey and other major economic philosophers. McCloskey is one of the most recognizable names in economics, yet this is the first real attempt to analyze her work in book form. She views economics as a language that uses all the rhetorical devices of everyday conversation, and her controversial standpoint on judging economics by aesthetic and literary standards has been hugely influential. Utilizing the views of Derrida and Foucualt amongst others, Benjamin Balak analyzes McCloskey’s major texts and critically evaluates the linguistic, literary and philosophical approaches they introduce. This long overdue examination of the methodological and philosophical consequences of McCloskey’s work will be of interest to philosophers and economists alike.
In recent years there has been a flowering of work on economic methodology. However there is no longer any consensus about which direction this should take or, indeed, even what the role and content of economic methodology should be. This book reflects this diversity. Its contributors are responsible for the major developments in this field and together they give an account of all the major positions which currently prevail in economic methodology. These include attempts to rehabilitate the 'falsification' of Kuhn, Lakatos and Popper, sociology of knowledge approaches, different forms of realism, contributions from the 'rhetoric' project and other perspectives which view the economy as a text.
This first full length treatment of interventionist theories of causation in the social sciences, the biological sciences and other higher-level sciences the presents original counter arguments to recent trends in the debate and serves as useful introduction to the subject.
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.