Partant du constat d’une certaine confusion régnant dans les études sur le néolibéralisme, cette étude entend apporter des éléments de clarification quant au sens et à l’histoire de la doctrine. Pour ce faire, elle s’efforce tout d’abord de dresser une typologie originale des diverses tendances (ordolibérale, néoclassique, autrichienne et française), puis essaie d’éclairer, à la lueur de cette cartographie, les différentes mutations du mouvement jusqu’à aujourd’hui.

Hayek argued that the central question of economics is the coordination problem: How does the spontaneous interaction of many purposeful individuals, each having dispersed bits of subjective knowledge, generate an order in which the actors' subjective data are coordinated in a way that enables them to dovetail their plans and activities successfully? In attempting to solve this problem, Hayek outlined an approach to economic theorizing that takes seriously the limited, subjective nature of human knowledge. Despite purporting to have appropriated Hayek's (...) thought by acknowledging the information-transmitting role of prices, mainstream economists have missed Hayek's point. The predominant tool of formal economics—equilibrium analysis—begins by assuming the data held by actors to have been pre-reconciled, and so evades the problem to be solved. Even the more advanced tools for modeling knowledge in economic analysis, such as the economics of information, assume away either the subjectivism of knowledge and expectations (rendering the coordination of beliefs and plans a trivial matter) or the frictions and “imperfections” of reality (rendering the coordination problem indeterminate). (shrink)

Dans cet article, nous livrons une analyse du statut épistémologique de l’hypothèse d’efficience des marchés. Sans juger de sa véracité ou de sa fausseté, nous montrons qu’elle ne peut, en aucun sens rigoureux, être entendue comme une proposition empirique testable. Aucune expérience n’existe permettant de la falsifier irrévocablement. A rebours, nous montrons qu’elle ne peut être entendue que comme une proposition analytique, comme inaugurant un nouveau système de définitions cohérent par lui-même. En cela, la formulation de l’hypothèse d’efficience des marchés (...) a ouvert un nouveau programme de recherche, dont nous mettons en évidence les grandes lignes directrices. (shrink)

This article draws on historical material to examine the co-evolution of economic science and business education over the course of the twentieth century, showing that fields evolve not only through internal struggles but also through struggles taking place in adjacent fields. More specifically, we argue that the scientific strategies of business schools played an essential—if largely invisible and poorly understood—role in major transformations in the organization and substantive direction of social-scientific knowledge, and specifically economic knowledge, in twentieth century America. We (...) use the Wharton School as an illustration of the earliest trends and dilemmas (ca. 1900–1930), when business schools found themselves caught between their business connections and their striving for moral legitimacy in higher education. Next, we look at the creation of the Carnegie Tech Graduate School of Industrial Administration after World War II. This episode illustrates the increasingly successful claims of social scientists, backed by philanthropic foundations, on business education and the growing appeal of “scientific” approaches to decision-making and management. Finally, we argue that the rise of the Graduate School of Business at the University of Chicago from the 1960s onwards (and its closely related cousin at the University of Rochester) marks the decisive ascendancy of economics, and particularly financial economics, in business education over the other behavioral disciplines. We document the key role of these institutions in diffusing “Chicago-style” economic approaches—offering support for deregulatory policies and popularizing narrowly financial understandings of the firm—that sociologists have described as characteristic of the modern neo liberal regime. (shrink)

Contributions in modern theoretical physics and chemistry on the behavior of nonlinear systems, exemplified by Ilya Prigogine's work on the thermodynamics of open systems, attract growing attention in economics. Our purpose here is to relate the new orientation in the natural sciences to a particular nonorthodox strand of thought within economics. All that is needed for this purpose is some appreciation of the general thrust of the enterprise, which involves a shift of perspective from the determinism of conventional physics to (...) the nonteleological open-endedness, creative, and nondetermined nature of evolutionary processes. (shrink)

This paper intends to bring Austinian themes into methodological discussion about models. Using Austinian conceptual vocabulary, I argue that models perform actions in and outside of the academic field. This multiplicity of fields induces a variety of felicity conditions and types of performed actions. If for example, an inference from a model is judged according to some epistemological criteria in the scientific field, the representation of the world which the model carries will not be judged by the same criteria outside (...) the scientific field. A model can be considered as a standard in a strict scientific framework, while not being used as part of public policies, or vice versa. However, we focus on the dynamics between different fields. (shrink)