This book offers a comprehensive overview of the structure, strategy and methods of assessment of orthodox theoretical economics. In Part I Professor Hausman explains how economists theorise, emphasising the essential underlying commitment of economists to a vision of economics as a separate science. In Part II he defends the view that the basic axioms of economics are 'inexact' since they deal only with the 'major' causes; unlike most writers on economic methodology, the author argues that it is the rules that (...) economists espouse rather than their practice that is at fault. Part III links the conception of economics as a separate science to the fact that economic theories offer reasons and justifications for human actions, not just their causes. With its lengthy appendix introducing relevant issues in philosophy of science, this book is a major addition to philosophy of economics and of social science. (shrink)

This book examines and compares the two major traditions of institutionalist thinking in economics: the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, and the 'new' institutionalism developed more recently from neoclassical and Austrian sources and including the writings of Coase, Williamson, North, Schotter, and many others. The discussion is organized around a set of key methodological, theoretical, and normative problems that necessarily confront any attempt to incorporate institutions into economics. These are identified in terms of the issues surrounding the (...) use of formal or non-formal analytical methods, individualist or holistic approaches, the respective roles of rational choice and rule-following behavior, the relative importance of the spontaneous evolution and deliberative design of institutions, and questions concerning the normative appraisal of institutions. The old and the new institutionalism have often been paired on opposite sides of these issues, and the issues themselves presented in a series of sharp dichotomies. Professor Rutherford argues, however, that matters are both more complex and more challenging. Although each tradition embodies fascinating insights into the study of economic institutions - their functioning, evolution, and impact on human welfare - neither has as yet provided fully satisfactory answers to the problems identified. (shrink)

This was the first cross-over book into the history of science written by an historian of economics. It shows how 'history of technology' can be integrated with the history of economic ideas. The analysis combines Cold War history with the history of postwar economics in America and later elsewhere, revealing that the Pax Americana had much to do with abstruse and formal doctrines such as linear programming and game theory. It links the literature on 'cyborg' to economics, an element missing (...) in literature to date. The treatment further calls into question the idea that economics has been immune to postmodern currents, arguing that neoclassical economics has participated in the deconstruction of the integral 'self'. Finally, it argues for an alliance of computational and institutional themes, and challenges the widespread impression that there is nothing else besides American neoclassical economic theory left standing after the demise of Marxism. (shrink)

It has long been one of the most fundamental problems of philosophy, and it is now, John Searle writes, "the most important problem in the biological sciences": What is consciousness? Is my inner awareness of myself something separate from my body? In what began as a series of essays in The New York Review of Books, John Searle evaluates the positions on consciousness of such well-known scientists and philosophers as Francis Crick, Gerald Edelman, Roger Penrose, Daniel Dennett, David Chalmers, and (...) Israel Rosenfield. He challenges claims that the mind works like a computer, and that brain functions can be reproduced by computer programs. With a sharp eye for confusion and contradiction, he points out which avenues of current research are most likely to come up with a biological examination of how conscious states are caused by the brain. Only when we understand how the brain works will we solve the mystery of consciousness, and only then will we begin to understand issues ranging from artificial intelligence to our very nature as human beings. (shrink)

The economists of the Austrian School count among the most consistent supporters of methodological individualism, but they were for the most part strongly opposed to clearly anti-holist trends such as constructivism, reductionism, and positivism. This article discusses why the sort of methodological individualism defended by the Austrians could not, for interconnected reasons, be rendered compatible with any one of these philosophical trends. The manner in which the Austrians managed to reconcile their analysis of economic mechanisms with a strictly subjectivist approach (...) is especially considered. The discussion also underscores some ambiguous dimensions of the debate between holism and individualism. (shrink)

Most philosophical accounts of the foundations of economics have assumed that economics is intended to be an empirical science concerned with human behaviour, though they have, of course, differed over the extent to which it has been or can be successful as such an enterprise. A prominent source of dissent against this consensus is Alexander Rosenberg. In his recent book, Rosenberg summarizes and completes his statement of a position that he has been developing for some time. He argues that although (...) economists evaluate one another's work according to shared and rigorous standards of adequacy, these standards are strictly internal, like those of mathematics, instead of being derived from discoveries about contingent relationships between theoretical statements and empirical facts. Economics, that is to say, is essentially conceptual rather than empirical inquiry. In the following discussion, I will provide grounds for resisting Rosenberg's conclusion. The point of this criticism, however, is not mainly negative. Most of the historical preoccupations of the philosophy of economics, like those of the philosophy of science in general, have been epistemological. Careful attention to Rosenberg's argument, however, redirects our attention to ontological questions about the objects of economics, and this redirection, I will maintain, is to be welcomed. I will argue that while the majority of philosophers of economics is correct, as against Rosenberg, in regarding economics as an empirical science, the conventional view as to the identity of its empirical objects should be substantially revised under the pressure of Rosenberg's criticisms. My critical analysis of the implications of Rosenberg's work for the ontological commitments of economics is intended to furnish one line of argument towards my own conception of the objects of economics. This conception, which is still preliminary in many respects, will be briefly sketched toward the end of the present paper; a detailed account of it is given in Ross and LaCasse. (shrink)

The concept of the individual and his/her motivations is a bedrock of philosophy. All strands of thought at heart contain to a particular theory of the individual. Economics, though, is guilty of taking this hugely important concept without questioning how we theorize it. This superb book remedies this oversight. The new approach put forward by Davies is to pay more attention to what moral philosophy may offer us in the study of personal identity, self consciousness and will. This crosses the (...) traditional boundaries of economics and will shed new light on the distinction between positive and normative analysis in economics. With both heterodox and orthodox economics receiving a thorough analysis from Davies, this book is at once inclusive and revealing. (shrink)

This is an expanded and thoroughly revised edition of the widely adopted introduction to the philosophical foundations of the human sciences. Ranging from cultural anthropology to mathematical economics, Alexander Rosenberg leads the reader through behaviorism, naturalism, interpretativism about human action, and macrosocial scientific perspectives, illuminating the motivation and strategy of each.Rewritten throughout to increase accessibility, this new edition retains the remarkable achievement of revealing the social sciences’ enduring relation to the fundamental problems of philosophy. It includes new discussions of positivism, (...) European philosophy of history, causation, statistical laws, quantitative models, and postempiricist social science, along with a completely updated literature guide that keys chapters to widely anthologized papers. (shrink)

What psychological and philosophical significance should we attach to recent efforts at computer simulations of human cognitive capacities? In answering this question, I find it useful to distinguish what I will call "strong" AI from "weak" or "cautious" AI. According to weak AI, the principal value of the computer in the study of the mind is that it gives us a very powerful tool. For example, it enables us to formulate and test hypotheses in a more rigorous and precise fashion. (...) But according to strong AI, the computer is not merely a tool in the study of the mind; rather, the appropriately programmed computer really is a mind, in the sense that computers given the right programs can be literally said to. (shrink)

The Mind-Body Problem Questions: What is the mind? What is its connection to the body? Most basic division of answers: Dualist and Materialist (or Physicalist) responses.

Are there really beliefs? Or are we learning (from neuroscience and psychology, presumably) that, strictly speaking, beliefs are figments of our imagination, items in a superceded ontology? Philosophers generally regard such ontological questions as admitting just two possible answers: either beliefs exist or they don't. There is no such state as quasi-existence; there are no stable doctrines of semi-realism. Beliefs must either be vindicated along with the viruses or banished along with the banshees. A bracing conviction prevails, then, to the (...) effect that when it comes to beliefs (and other mental items) one must be either a realist or an eliminative materialist. (shrink)

Through the use of such "folk" concepts as belief, desire, intention, and expectation, Daniel Dennett asserts in this first full scale presentation of...

Little, Brown, 1992 Review by Glenn Branch on Jul 5th 1999 Volume: 3, Number: 27.

A systematic, critical examination of Karl Marx's social theories and their philosophical presuppositions. Through extensive discussions of the texts Jon Elster offers a balanced and detailed account of Marx's views that is at once sympathetic, undogmatic and rigorous. Equally importantly he tries to assess 'what is living and what is dead in the philosophy of Marx', using the analytical resources of contemporary social science and philosophy. Professor Elster insists on the need for microfoundations in social science and provides a systematic (...) criticism of functionalism and teleological thinking in Marx. He argues that Marx's economic theories are largely wrong or irrelevant; historical materialism is seen to have only limited plausibility ; Marx's most lasting achievements are the criticism of capitalism in terms of alienation and exploitation and the theory of class struggle, politics and ideology under capitalism, though in these areas too Elster enters substantial qualifications. The book should take its place as the most comprehensive and sophisticated modern study available. (shrink)

ABSTRACT: The economists of the Austrian School count among the most consistent supporters of methodological individualism, but they were for the most part strongly opposed to clearly anti-holist trends such as constructivism, reductionism, and positivism. This article discusses why the sort of methodological individualism defended by the Austrians could not, for interconnected reasons, be rendered compatible with any one of these philosophical trends. The manner in which the Austrians managed to reconcile their analysis of economic mechanisms with a strictly subjectivist (...) approach is especially considered. The discussion also underscores some ambiguous dimensions of the debate between holism and individualism. (shrink)

In Minimal Rationality, Christopher Cherniak boldly challenges the myth of Man the the Rational Animal and the central role that the "perfectly rational...

Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenberg's controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability--the capacity to create more precise forecasts by evaluating the success of earlier predictions--and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it is not a (...) science. (shrink)

Most philosophical accounts of the foundations of economics have assumed that economics is intended to be an empirical science concerned with human behaviour, though they have, of course, differed over the extent to which it has been or can be successful as such an enterprise. A prominent source of dissent against this consensus is Alexander Rosenberg. In his recent book, Rosenberg summarizes and completes his statement of a position that he has been developing for some time. He argues that although (...) economists evaluate one another's work according to shared and rigorous standards of adequacy, these standards are strictly internal, like those of mathematics, instead of being derived from discoveries about contingent relationships between theoretical statements and empirical facts. Economics, that is to say, is essentially conceptual rather than empirical inquiry. In the following discussion, I will provide grounds for resisting Rosenberg's conclusion. The point of this criticism, however, is not mainly negative. Most of the historical preoccupations of the philosophy of economics, like those of the philosophy of science in general, have been epistemological. Careful attention to Rosenberg's argument, however, redirects our attention to ontological questions about the objects of economics, and this redirection, I will maintain, is to be welcomed. I will argue that while the majority of philosophers of economics is correct, as against Rosenberg, in regarding economics as an empirical science, the conventional view as to the identity of its empirical objects should be substantially revised under the pressure of Rosenberg's criticisms. My critical analysis of the implications of Rosenberg's work for the ontological commitments of economics is intended to furnish one line of argument towards my own conception of the objects of economics. This conception, which is still preliminary in many respects, will be briefly sketched toward the end of the present paper; a detailed account of it is given in Ross and LaCasse. (shrink)

In this study, Don Ross explores the relationship of economics to other branches of behavioral science, asking, in the course of his analysis, under what interpretation economics is a sound empirical science. The book explores the relationships between economic theory and the theoretical foundations of related disciplines that are relevant to the day-to-day work of economics -- the cognitive and behavioral sciences. It asks whether the increasingly sophisticated techniques of microeconomic analysis have revealed any deep empirical regularities -- whether technical (...) improvement represents improvement in any other sense. Casting Daniel Dennett and Kenneth Binmore as its intellectual heroes, the book proposes a comprehensive model of economic theory that, Ross argues, does not supplant, but recovers the core neoclassical insights, and counters the caricaturish conception of neoclassicism so derided by advocates of behavioral or evolutionary economics. Because he approaches his topic from the viewpoint of the philosophy of science, Ross devotes one chapter to the philosophical theory and terminology on which his argument depends and another to related philosophical issues. Two chapters provide the theoretical background in economics, one covering developments in neoclassical microeconomics and the other treating behavioral and experimental economics and evolutionary game theory. The three chapters at the heart of the argument then apply theses from the philosophy of cognitive science to foundational problems for economic theory. In these chapters, economists will find a genuinely new way of thinking about the implications of cognitive science for economics, and cognitive scientists will find in economic behavior, a new testing site for the explanations of cognitive science. (shrink)