The philosophy of economics : an anthology / edited by Daniel M. Hausman.

Format:

Book

Contributor:

Hausman, Daniel M., 1947- editor.

Language:

English

Subjects (All):

Economics.

Economics--Philosophy.

Economics--Methodology.

Physical Description:

1 online resource (vii, 527 pages) : digital, PDF file(s).

Edition:

Third edition.

Place of Publication:

Cambridge : Cambridge University Press, 2007.

Language Note:

English

Summary:

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.

Contents:

COVER; HALF-TITLE; TITLE; COPYRIGHT; CONTENTS; INTRODUCTION; An Introduction to Philosophy of Science; Scientific Theories and Laws; Assessment and Demarcation; The Unity of Science; An Introduction to Economics; An Introduction to EconomicMethodology; Notes; PART ONE: CLASSIC DISCUSSIONS; 1 On the Definition and Method of Political Economy; Note; 2 Objectivity and Understanding in Economics; 3 The Nature and Significance of Economic Science; Chapter I: The SubjectMatter of Economics; Chapter IV: The Nature of Economic Generalisations; Chapter V: Economic Generalisations and Reality

Chapter VI: The Significance of Economic ScienceNotes; 4 Economics and Human Action; 5 Selected Texts on Economics, History, and Social Science; Estranged Labour; From the ""Preface"" to a Contribution to the Crlitique of Political Economy; The Method of Political Economy; Notes; 6 The Limitations of Marginal Utility; Note; PART TWO: POSITIVIST AND POPPERIAN VIEWS; 7 The Methodology of Positive Economics; I. The Relation between Positive and Normative Economics; II. Positive Economics; III. Can a Hypothesis be Tested by the Realism of its Assumptions?

IV. The Significance and Role of the ""Assumptions"" of a TheoryA. The Use of "Assumptions" in Stating a Theory; B. The Use of "Assumptions" as an Indirect Test of Theory; V. Some Implications for Economic Issues; VI. Conclusion; Notes; 8 Testability and Approximation; The Relation of Premises and Conclusions in Economic Theory; Ideal Types and Approximations; 9 Why Look Under the Hood?; Notes; 10 Popper and Lakatos in Economic Methodology; Overview; Introduction; Falsificationism; Lakatos's Methodology of Scientific Research Programmes; Conclusion; Notes

PART THREE: IDEOLOGY AND NORMATIVE ECONOMICS11 Science and Ideology; I; II; III; IV; V; Notes; 12 Welfare Propositions of Economics and Interpersonal Comparisons of Utility; Notes; 13 The Philosophical Foundations of Mainstream Normative Economics; 1. A Notorious Example; 2. Summers's Argument; 3. Individualism, Rationality, and Self-Interest; 4. Moral Foundations: Ethical Individualism andWelfare; 5. Repudiating Interpersonal Comparisons; 6. Pareto Improvements, Pareto Efficiency, andWelfare Theorems; 7. Potential Pareto Improvements and Cost-Benefit Analysis; 8. Conclusions; Notes

References14 Why Is Cost-Benefit Analysis So Controversial?; Overview; The Incommensurability Problem; General Reservations about Consequentialist Ethics; Discounting the Future; Distributional Issues; Measurement Problems; SurveyMethods; Hedonic Methods; Positional Concerns and Revealed Preference; Impulse-Control Problems and Revealed Preference; Status Quo Bias; Concluding Remarks; Notes; 15 Capability andWell-Being; 1. Introduction; 2. Functionings, Capability, and Values; 3. Value-Objects and Evaluative Spaces; 4. Capability and Freedom; 5. Value-Purposes and Distinct Exercises

6. Well-Being, Agency, and Living Standards

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references and index.

ISBN:

1-107-71411-7

1-281-15617-5

9786611156176

0-511-81902-1

0-511-37043-1

0-511-37094-6

0-511-36993-X

0-511-36941-7

0-511-37141-1

OCLC:

648345842