This is a comprehensive anthology of works concerning the nature of economics as a science, including classic texts and essays exploring specific branches and schools of economics. Apart from the classics, most of the selections in the third edition are new, as are the introduction and bibliography. No other anthology spans the whole field and offers a comprehensive introduction to questions about economic methodology.

Suppose a person lives in a sub-Saharan country that has won its independence from colonial powers in the last 50 years or so. Suppose also that that person has become a high-ranking government official who makes decisions on how to allocate goods, such as civil service jobs and contracts with private firms. Should such a person refrain from considering any particulars about potential recipients or might it be appropriate to consider, for example, family membership, party affiliation, race or revolutionary stature (...) as reasons to benefit certain individuals at some cost to the general public? Which of these factors should be considered unjust, or even corrupt, as a basis on which to allocate state goods and which should not? This chapter outlines an attractive moral theory with African content that forbids both impartialism and a strong form of partialism that would permit government officials to favour members of their families or political parties. Between these two extremes, a moderate partialism is prescribed. This permits government agents to occasionally favour veterans and victims of state injustices at some cost to the general public. This chapter seeks to provide a new, unified explanation of why sub-Saharan values permit some forms of partiality, such as the preferential hiring of those who struggled against colonialism, but prohibit other nepotistic forms of partiality. (shrink)

The importance of trust has long been emphasised by social and political theorists from Locke and Tocqueville to Putnam and civil society theorists. However, individual survey data casts substantial doubt on this powerful tradition of thought. There is little evidence of an overlap between social and political trust, a syndrome of trust and membership of voluntary organizations, and the existence of trusting/distrusting dispositions among individuals. However, at the aggregate national level there is evidence to support the theory, and the author (...) concludes that the classic theory is correct but needs modification and qualification. (shrink)

Metaphors establish connection. Root metaphors--patterns of relational imagery in the language and thought of a culture, in which a diverse group of tenors are related to a single indentifiable class of vehicles--play an important role in organizing our thought, and in bringing a coherence to our vision of the world. This is a political function; root metaphors, as philosopher Stephen Pepper discusses them, are most often found in the works of philosophers remembered as political philosophers. ;The second law of thermodynamics--the (...) law of entropy--holds that in any spontaneous process, usable energy becomes unusable energy. It also suggests that improbable order must succumb, through time, to more probable chaos. The law of entropy has enjoyed a popularity as metaphor unusual for such physics esoterica. In the works of Brooks Adams, Henry Adams, Nicholas Georgescu-Roegen, and Thomas Pynchon, the idea of entropy appears as the fundamental, organizing idea for an economic interpretation of history, a philosophy of history, an ecologically enlightened economic theory, and an encyclopedic novel that apotheosizes modern culture. Analysis of how the entropy metaphor is manifest in the works of these thinkers allows us to judge the strengths and weaknesses of entropy as root metaphor. Analysis of its contemporary popularity affords insight into the politics of the day. Ultimately, the entropy root metaphor serves as the foundation of a refurbished "generating substance" world hypothesis, but the root metaphor itself remains equivocal on the important issue of centralized versus decentralized political organization. (shrink)