This paper challenges the first Gettier counterexample to the tripartite account of knowledge. Noting that 'the man who will get the job' is a description and invoking Donnellan's distinction between their 'referential' and 'attributive' uses, I argue that Smith does not actually believe that the man who will get the job has ten coins in his pocket. Smith's ignorance about who will get the job shows that the belief cannot be understood referentially, his ignorance of the coins in his pocket (...) shows that it cannot be understood attributively. An explanation for why Smith appeared to have justified true belief is given by distinguishing between 'belief' and 'belief in truth'. Smith believes the sentence 'the man who will get the job has ten coins in his pocket' to be true (he mistakenly believes that Jones will get the job, of whom he knows that he has ten coins in his pocket) (hence his 'belief'), the sentence is true (hence 'truth'), and he has sufficient reason to assent to it (hence his 'justification'). But he does not believe the proposition expressed. Hence he does not know it either. (shrink)

The issue on whether the epistemological view of Engels and the Marxists can be identified to Marx opens the question on what Marx’s actual view on knowledge. This debate on Marx’s epistemology is divided between realist and idealist interpretation of his texts: the former reads that for Marx knowledge is a copy of an independent reality existing outside of man, while the latter views that for the same philosopher, knowledge is in some sense constructed by the subject. This study (...) contributes to the discussion by closely reading the epistemology of the Economic and Philosophic Manuscripts of 1844. The Manuscripts contain important epistemological remarks that are subject of scholarly debate. The scope of the study aims to read the texts on their own terms, and through that, avoid the reductive readings of Marx that plague his interpretations. Through this approach, this study argues that Marx in the Manuscripts conveys an idealist epistemology based on his concept on how human need shapes human cognition. Marx further develops this idealism in the texts in his critique of political economy, where he shows that this science is grounded on the estranged need. In the end, this study underscores that the Manuscripts’ idealism shows a part in Marx’s thinking that underlines the role cognition plays to address forms of estrangements brought by the structures of private property. It highlights how Marx empowers man as capable of resolving the estrangements in the society through the development of both action and cognition. (shrink)

There have recently been novel applications of medical systematic review guidelines to economic policy interventions which contain controversial methodological assumptions that require further scrutiny. A landmark 2017 Cochrane review of unconditional cash transfer (UCT) studies, based on the Grading of Recommendations Assessment, Development and Evaluation (GRADE), exemplifies both the possibilities and limitations of applying medical systematic review guidelines to UCT and universal basic income (UBI) studies. Recognizing the need to upgrade GRADE to incorporate the differences between medical and policy interventions, (...) the GRADE Public Health Project Group (PHPG) was convened to enumerate and address these methodological challenges. However, in light of our analysis of additional methodological challenges that arise for UCT and UBI studies, we argue that the adaptation of medical systematic review guidelines to economic methodology is far from straightforward and is in fact more challenging than claimed by the PHPG. (shrink)

This article comprises an up-to-date critical review of the field known as Economic Methodology or Philosophy of Economics (EM/PE). Two edited volumes (Kincaid and Ross 2021; Heilmann and Reiss 2021), a special issue of the Journal of Economic Methodology (2021), and a recent bibliometric analysis of the field (Claveau et al. 2021) constitute the basis of the review. Drawing on these sources, we identify a number of problematic trends in current EM/PE research. We claim that these trends could be (...) interpreted as two kinds of biases, namely a micro-level bias and a mainstream bias. We discuss the respective details of these biases and their normative implications for the discipline. (shrink)

: The theory of objective value is the central feature in the paradigm of political economy. The Newtonian heritage plays a major role in giving political economy the status of a self-standing empirical science, and a reconstruction of this heritage casts fresh light on the idea of value and its role in the definition of the subject matter of political economy. Cognitive progress carried by classical political economy turns out to be related with the dilemmas of Newtonian epistemology and (...) the alternative between essentialist realism and instrumental conventionalism. (shrink)

The goal of the article is to substantiate that despite the criticism the paradigm in economics will not change because of the axiomatic assumptions of value-free economics. How these assumptions work is demonstrated on the example of Gary Becker’s economic approach which is analyzed from the perspective of scientific research programme. The author indicates hard core of economic approach and the protective belt which makes hard core immune from any criticism. This immunity leads economists to believe that they (...) are objective scientists and, consequently, it results in epistemological hubris. Due to its tautological nature, economic approach is considered to be a degenerative programme. This conclusion is extended on value-free economics. In spite of these problems, many economists still believe in positive economics and they dismiss normative approaches. It has a negative influence on people. The conclusion of the article is that thanks to axiomatic assumptions economists do not have objective and ironclad methodology and they should accept normative values in their research. (shrink)

This research explores the incorporation of narrative perspectives in economics as a social science and its implications for rethinking epistemology. By examining the role of narratives in economic analysis, the study highlights the advantages of narratives in providing contextualized accounts of human experiences, connecting economic concepts to real-world phenomena, and exploring diverse perspectives. It emphasizes the importance of interdisciplinary collaboration between philosophers, economists, and social scientists to gain a comprehensive understanding of narratives' influence on economic decision-making, market dynamics, (...) and consumer behaviour. The research suggests that narratives offer a means to challenge the notion of a single, objective truth and contribute to a more inclusive and robust framework for analyzing economic phenomena. The implications extend beyond economics, urging a broader perspective on epistemology by embracing narrative perspectives and engaging in interdisciplinary collaboration across disciplines. Overall, this research calls for a rethinking of epistemology, recognising the significance of narratives and their role in knowledge production. (shrink)

شنت الولايات المتحدة الأمريكية حربا على العراق عام 2003 بدعوى أن العراق يمتلك أسلحة دمار شامل، ثم تبين للعالم عدم صحة هذه الدعوى، وقال الناس: لقد كذبت الإدارة الأمريكية. كانت نظرية المعرفة التقليدية تنسب المعرفة إلى الذات العارفة الفردية، وتركز على الفاعلين الأفراد وحالاتهم الاعتقادية، مثل "يعتقد أحمد بقضية معينة". أما أن ننسب الحالات المعرفية إلى الجماعات مثل " كذبت الإدارة الأمريكية"، فهذا تحول في الإبستمولوجيا إلى الفاعل الجماعي. إبستمولوجيا الجماعات epistemology of groups حقل فرعي من الإبستمولوجيا الاجتماعية. يهدف (...) إلى استكشاف الخصائص والعمليات المعرفية على مستوى الجماعة. ظهر بصورة واضحة مع مطلع القرن الحادي والعشرين، فعقدت له مؤتمرات وطنية ودولية، وظهرت البحوث والكتب التي تعنى بموضوعاته الأساسية مثل معرفة الجماعة، واعتقاد الجماعة، وتسويغ الجماعة، وفهم الجماعة، وعقلانية الجماعة وموضوعيتها، وفضيلة الجماعة، واختلاف الجماعة، واستقطاب الجماعة، وذكاء الجماعة، وَهَلُمَّ جَرّاً. ويضيف هذا الكتاب إلى المناقشات المتطورة في المعرفة الاجتماعية عامة، ونظرية المعرفة الجماعية خاصة. ويوفر مسارًا يسهل الوصول إليه في موضوع إبستمولوجيا الجماعات، مع فصول منظمة بشكل ملائم ومصطلحات فنية محددة ومفسرة بوضوح. ويطور نظريات لها جاذبية تتجاوز الفلسفة إلى تخصصات مثل الاقتصاد والقانون وعلم النفس الاجتماعي والعلوم السياسية. The United States of America launched a war against Iraq in 2003 claiming that Iraq possesses weapons of mass destruction, then it became clear to the world that this claim was not true, and people said: The American administration lied. The traditional theory of knowledge attributed knowledge to the individual knowing subject, and focused on individual actors and their belief states, such as "Ahmed believes in a certain proposition". As for attributing cognitive states to groups, such as “the American administration lied,” this is a shift in epistemology to the collective actor. The epistemology of groups is a subfield of social epistemology. It aims to explore the characteristics and cognitive processes at the group level. It appeared clearly at the beginning of the twenty-first century, so national and international conferences were held for it, and research and books appeared that deal with its basic topics such as group knowledge, group belief, group justification, group understanding, group rationality, and objectivity, group virtue, group difference, group polarization, and group intelligence, and so on. This book adds to the cutting-edge debates on social epistemology generally, and collective epistemology more specifically. Provides a very accessible path into the topic of an epistemology of groups, with conveniently organized chapters and technical terms clearly defined and explained. Develops theories that have appeal beyond philosophy, for disciplines such as economics, law, social psychology, and political science. (shrink)

A review of Carsten Herrmann-Pillath, Foundations of Economic Evolution. A Treatise on the Natural Philosophy of Economics. I argue that the author's ultra-naturalist stance in epistemology lacks consistent justification.

The critique of philosophical foundations of neoclassical economics is significant, because of its hegemony on economic education and research programs in Iran and worldwide academies. Due to an epistemological fallacy, methodological individualism plays a prominent role in the philosophy of economic; since the ontological aspects of economy are reduced to methodological considerations. Accordingly, critique of methodological individualism is regarded as the main entry for philosophical analysis of neoclassical economics. This article aims to analyze and appraise the methodological individualism (...) from critical realism’s point of view. Critical realism is taken as a stand for criticizing methodological individualism, because critical realism and neoclassical economics as a positive approach to economics, both share a realistic worldview. The critical realism’ critique of methodological individualism is bases on analyzing the concepts of formalism, syllogism, social atomism, isolation and reduction. From critical realism’ point of view because of unrealistic postulations of methodological individualism, neoclassical economics is turned to an abstract and deductive science such as mathematics with a low potentiality of explanation. (shrink)

In this paper, I compare the methodology of the Austrian school to two alternative methodologies from the economic mainstream: the ‘orthodox’ and revealed preference methodologies. I argue that Austrian school theorists should stop describing themselves as ‘extreme apriorists’ (or writing suggestively to that effect), and should start giving greater acknowledgement to the importance of empirical work within their research program. The motivation for this dialectical shift is threefold: the approach is more faithful to their actual practices, it better illustrates the (...) underlying similarities between the mainstream and Austrian research paradigms, and it provides a philosophical foundation that is much more plausible in itself. (shrink)

Given the endowment effect, the role of attention in decision-making, and the framing effect, most behavioral economists agree that it would be a mistake to accept the satisfaction of revealed preferences as the normative criterion of choice. Some have suggested that what makes agents better off is not the satisfaction of revealed preferences, but ‘true’ preferences, which may not always be observed through choice. While such preferences may appear to be an improvement over revealed preferences, some philosophers of economics (...) have argued that they face insurmountable epistemological, normative, and methodological challenges. This article introduces a new kind of true preference – values-based preferences – that blunts these challenges. Agents express values-based preferences when they choose in a manner that is compatible with a consumption plan grounded in a value commitment that is normative, affective, and stable for the agent who has one. Agents who choose according to their plans are resolute choosers. My claim is that while values-based preferences do not apply to every choice situation, this kind of preference provides a rigorous way for thinking about classic choice situations that have long interested behavioral economists and philosophers of economics, such as ‘Joe-in-the-cafeteria.’. (shrink)

The foundation of Economic failures to solve the economic problems is in the epistemological contradiction and failures of Economic Theories. This paper shows the most important contradictions in the Big Paradigms of the las centuries (Marx, Walras, Keynes).

This article aims to defend a novel account of pluralism in economics. First, it argues that what justifies pluralism is its epistemological benefits. Second, it acknowledges that pluralism has limits, and defends reasonable pluralism, or the view that we should only accept those theories and methods that can be justified by their communities with reasons that other communities can accept. Clearly, reasonable pluralism is an ideal, which requires economists of different persuasions to respect certain norms of communication while evaluating (...) each other’s theories. The article ends with a discussion of the conditions under which reasonable communication becomes possible. (shrink)

This chapter uses Uskali Mäki’s (2009) concepts of “good” and “bad” imperialism to investigate the “economics imperialism” thesis. If science expands by offering (a) consilience, and (b) epistemological and ontological unity – that is, it explains more phenomena with greater parsimony – then this is good scientific expansion. Economics imperialism is only bad if the methodology of economics expands outside its domain without increasing understanding in the above manners.

Artificial intelligence has historically been conceptualized in anthropomorphic terms. Some algorithms deploy biomimetic designs in a deliberate attempt to effect a sort of digital isomorphism of the human brain. Others leverage more general learning strategies that happen to coincide with popular theories of cognitive science and social epistemology. In this paper, I challenge the anthropomorphic credentials of the neural network algorithm, whose similarities to human cognition I argue are vastly overstated and narrowly construed. I submit that three alternative supervised (...) learning methods—namely lasso penalties, bagging, and boosting—offer subtler, more interesting analogies to human reasoning as both an individual and a social phenomenon. Despite the temptation to fall back on anthropomorphic tropes when discussing AI, however, I conclude that such rhetoric is at best misleading and at worst downright dangerous. The impulse to humanize algorithms is an obstacle to properly conceptualizing the ethical challenges posed by emerging technologies. (shrink)

What are the reasons of theory change in economical science? – The author tries to answer the question utilizing his theory change epistemological model approbated on the natural sciences. Key words: economical theory, theory change, natural science, model.

Pros and contras of Lakatosian epistemological theory-change model in respect to economics are considered. It is argued that one of the main shortcomings of the model is connected in its inability to treat the social factors.

It can hardly be denied that each field of knowledge has its own subject-matter and aims, scope and limits, specific method and distinctive characteristics. Every science has its own historical background and dynamics which explain its emergence and raison d'etre, as well as influence its development over time, expanding and contracting as it were in response to the prevailing Zeitgeist and alongside societal, legal, and political changes. Consequently, each discipline inevitably reflects the realities, beliefs, needs, tendencies, and interests of the (...) individuals (or groups) who undertake its study and instruction, or try to apply and develop it further. In other words, each field of knowledge is mirroring a certain Weltansicht, or worldview‒that is, a comprehensive framework through which individuals or cultures interpret and understand the world around them. In scientific enterprise, worldviews not only provide a broader context for interpreting data, but also influence their research directions, methodological preferences, and final conclusions. Economics is no exception to this phenomenon. This modest essay aims to open up the epistemological foundations of modern economics to closer scrutiny with a view to pinpointing some tacit assumptions, cultural or other biases, and preconceived notions operating beneath the surface of economic models, theories, and methodologies. (shrink)

The usage of Randomised Evaluations(REs) in social inquiry has been recent and responses to them have been wide ranging.RE seek to make predictions on the impact of an intervention, when it is attempted in a new situation. REs work by first determining the impact of the intervention. Subsequently, for the new situation it is expected that the impact would be similar. -/- The problem of induction poses one of the most serious challenges to the epistemological status of RE claims as (...) the value of REs themselve stem from their predictive validity. If the problem of induction is not solved or evaded then belief in projections based on REs is undermined. -/- In this paper, I argue that the unique methodology of REs used in Social Sciences allows itself to evade the problem the successfully, warranting belief that future interventions would have similar impact. (shrink)

This paper addresses Joseph Heath’s attempt to derive moral obligations from the conditions that are specified by the model of the perfectly competitive market. Through his market failures approach to business ethics he argues that firms should behave as if they are operating in a perfectly competitive market. However, I argue that this derivation of moral obligations runs counter to the metaethical principle that moral actions need to be voluntarily chosen from a set of alternatives. To the extent that Milton (...) Friedman’s derivation follows the same lines, my objection is also applicable to his approach to business ethics. I bring out the fact that the conditions required by the model of the perfectly competitive market cannot be realized in the actual world and argue that this causes problems for any moral obligations that might follow. My objection is illustrated by an intuitive example of someone set to an impossible task. I also bring in a way that Heath could work around this objection, but I argue that this would imply the collapse of his approach into another kind of theory that he wishes to distinguish himself from. More deeply, I show that my metaethical objection has epistemological consequences that undermine the very basis of the model of the perfectly competitive market. I conclude by stating that we need a different conception of competition, pointing to the facts that such a perspective would need to take into account, and suggesting that the concept of rivalry is up to the job. (shrink)

This paper reconsiders whether rational choice and game theory represent cases of economics imperialism. It follows the work of Uskali Maki who analyzes the significance and characteristics of disciplinary imperialism in natural science and social science. "Economics Imperialism" is a term often used to describe the increasing impact and reach of economics with respect to its encroachment on other disciplines including political science and psychology. Maki provides a framework for assessing whether the influence of one discipline on (...) another could be a case of "good imperialism" consistent with unification and greater explanatory power. The paper examines whether in the case of economics, "rational choice imperialism" is a better understanding of the question of contention. Rational choice has been used to model addiction, sex, marriage, sleep, and suicide. Applying tools offered by Maki, this paper argues that although the imperialism of rational choice over multiple disciplines provides a unified means of modeling human action, it does not demonstrably achieve deeper understanding of either individual or collective action. Furthermore, rational choice modeling may alter the human practices it analyzes if it is used in public policy. Thus although rational choice offers a means to check for deductive consistency within and among its models, it has elements suggestive of the "bad disciplinary imperialism" that Uskali provides a means to critique. (shrink)

With the growth of data, data-intensive approaches for sustainability are becoming widespread and have been endorsed by various stakeholders. To understand their implications, in this paper data-intensive approaches for sustainability will be explored by conducting an extensive review. The current data-intensive approaches are defined as an amalgamation of traditional data-collection methods, like surveys and data from monitoring networks, with new data-collection methods that involve new information communication technology. Based on a comprehensive review of the current dataintensive approaches for sustainability, key (...) challenges are identified: the lack of data availability, diverse indicators developed from a narrowly viewed base, diverse definitions and values, skewed global representation, and the lack of social and economic information collected, especially among the business indicators. To clarify the implications of these trends, four major research assumptions regarding dataintensive approaches are elaborated: the methodology, epistemology, normativity, and ontology. Caution is required when data-intensive approaches are masked as “objective”. Overcoming this issue requires interdisciplinary and community-based approaches that can offer ways to address the subjectivities of data-intensive approaches. The current challenges to interdisciplinarity and community-based approaches are also identified, and possible solutions are explored, so that researchers can employ them to make the best use of data-intensive approaches. (shrink)

Now that complex Agent-Based Models and computer simulations spread over economics and social sciences - as in most sciences of complex systems -, epistemological puzzles (re)emerge. We introduce new epistemological tools so as to show to what precise extent each author is right when he focuses on some empirical, instrumental or conceptual significance of his model or simulation. By distinguishing between models and simulations, between types of models, between types of computer simulations and between types of empiricity, section 2 (...) gives conceptual tools to explain the rationale of the diverse epistemological positions presented in section 1. Finally, we claim that a careful attention to the real multiplicity of denotational powers of symbols at stake and then to the implicit routes of references operated by models and computer simulations is necessary to determine, in each case, the proper epistemic status and credibility of a given model and/or simulation. (shrink)

The debates on the scientificity of social sciences in general, and sociology in particular, are recurring. From the original methodenstreitat the end the 19th Century to the contemporary controversy on the legitimacy of “regional epistemologies”, a same set of interrogations reappears. Are social sciences really scientific? And if so, are they sciences like other sciences? How should we conceive “research programs” Lakatos (1978) or “research traditions” for Laudan (1977) able to produce advancement of knowledge in the field of social and (...) human phenomena? Is the progress of knowledge in social sciences similar to the one generally observed in natural sciences? Is it possible to evaluate the relative merits of each one of these research programs? -/- These debates are important vectors of social and intellectual polarization. The historical divide between the positivist and the hermeneutics poles precedes the structure of the contemporary debate around the epistemic space of social sciences, It is not only a question of renewing the opposition between a monist view of sciences (e.g. McIntyre, 1996) and a dualistic one (e.g. Geertz, 1973) or even a trialist view of sciences (e.g. Lepenies, 1985). It is also a question of asserting dichotomies transformed into framework (including when it is a question of exceeding them): nature-culture, nomothetic-idiographic, models-narrative, structure-history, cause-reason, explanation-comprehension. -/- In this short introduction, we provide, in section 2, a first overview of this epistemological debate in social science. Section 3 proposes a different standpoint on the same questions, by introducing both ontological and methodological aspects in this basic epistemological debate. Namely, following (Hollis, 1994) oppositions of the explanation - understanding, causes - meaning, etc., types discussed in the firsts ection are comparatively examined together with oppositions of the structure - action, holism - individualism types. This allows us to discus show multi-agent design, by integrating various dimensions and standpoints in the same framework (Phan, Amblard, 2007, Chapters 1, 5, 14) can help us to shift these boundaries, and to bypass these oppositions. As model building and ontology design are at the core of this process (Phan, Amblard, 2007, Chapter 12), Section4 discusses various issues of the art of modelling, starting both from economists’ and sociologists’ current standpoints. (shrink)

In this article, I define a cultural epistemology as a set of socially reinforced assumptions about how knowledge and truth are produced. Unlike a philosophical epistemology, a cultural epistemology is largely the product of culture and largely invisible. As products of culture, cultural epistemology are relatively unquestioned and, in many cases, philosophically unsophisticated. There are three common types of cultural epistemologies, influenced by who holds power in a given society: an epistemological monarchy, an epistemological oligarchy and (...) an epistemological democracy. A given cultural epistemology subsequently influences the legitimacy of culture and government itself. I argue argue that Americans tend to hold an "epistemological democracy" with two distinct facets: a trust in consensus, linked to living in a democratic republic, and a trust in their own self-interest, linked to market economics and capitalism more generally. These two facets combine, interact, and even oppose each other to legitimize and challenge American culture and its political and economic systems. (shrink)

Complex environmental problems require well-researched policies that integrate knowledge from both the natural and social sciences. Epistemic differences can impede interdisciplinary collaboration, as shown by debates between conservation biologists and anthropologists who are working to preserve biological diversity and support economic development in central Africa. Disciplinary differences with regard to 1) facts, 2) rigor, 3) causal explanation, and 4) research goals reinforce each other, such that early decisions about how to define concepts or which methods to adopt may tilt research (...) design and data interpretation toward one discipline’s epistemological framework. If one of the contributing fields imposes a solution to an epistemic problem, this sets the stage for what I call disciplinary capture. Avoiding disciplinary capture requires clear communication between collaborators, but beyond this it also requires that collaborators craft research questions and innovate research designs which are different from the inherited epistemological frameworks of contributing disciplines. (shrink)

The origins of testing scientific models with statistical techniques go back to 18th century mathematics. However, the modern theory of statistical testing was primarily developed through the work of Sir R.A. Fisher, Jerzy Neyman, and Egon Pearson in the inter-war period. Some of Fisher's papers on testing were published in economics journals (Fisher, 1923, 1935) and exerted a notable influence on the discipline. The development of econometrics and the rise of quantitative economic models in the mid-20th century made statistical (...) significance testing a commonplace, albeit controversial tool within economics. -/- In the debate about significance testing, methodological controversies intertwine with epistemological issues and sociological developments. Our aim in this chapter is to expound these connections and to show how the use of, and the debate about, significance testing in economics differs from other social sciences, such as psychology. (shrink)

Since Thomas Kuhn’s The Structure of Scientific Revolutions (1962), historians and philosophers of science have paid increasing attention to the implications of disciplinarity. In this chapter we consider restrictions posed to interdisciplinary exchange between ecology and economics that result from a particular kind of commitment to the ideal of disciplinary purity, that is, that each discipline is defined by an appropriate, unique set of objects, methods, theories, and aims. We argue that, when it comes to the objects of study (...) in ecology and economics, ideas of disciplinary purity have been underwritten by the artificial-natural distinction. We then problematize this distinction, and thus disciplinary purity, both conceptually and empirically. Conceptually, the distinction is no longer tenable. Empirically, recent interdisciplinary research has shown the epistemological and policy-oriented benefits of dealing with models which explicitly link anthropogenic (i.e., “artificial”) and non-anthropogenic factors (i.e., “natural”). We conclude that, in the current age of the Anthropocene, it is to be expected that without interdisciplinary exchange, ecology and economics may relinquish global relevance because the distinct and separate systems to which each “pure” science was originally made to apply will only diminish over time. (shrink)

What are the reasons for theory change in economics? – The author tries to give a sober answer on the basis of his epistemological model reconstructing the internal aspects of theory change. It is conjectures that a more subtle approach including the external facets can be provided with the “communicative rationality” concept. Key words: economics, theory change, internalism, external factors .

It is difficult to advance a point beyond what Keynes himself commented about his own vision in The General Theory of Employment, Interest and Money in 1936 (hereafter TGT) in its Chapter 24. It is also difficult to express a deeper thought than what Skidelsky wrote about Chapter 24 of TGT (cf. Skidelsky, 1997). The purpose of this article is to identify whether Chapter 24 of TGT is the gist of Keynes’s legacy, having set the foundations of macroeconomics in the (...) previous 23 Chapters. Relevant topics included in Chapter 24 are the consequences of full employment, the fate of income distribution, the future of overall wealth, the socialization of investment, saving, expectations, the role of the State in economies, the future of financial markets and the interaction between economics and other disciplines. Indeed this Chapter displays Keynes’s genius as a social philosopher, following the tradition of The Economics Possibilities for our Grandchildren (1930). In Chapter 24 he was taking a glance at his product as did Phillip II when he was observing the construction of his castle El Escorial in XVII Spain. Within his vision, is this piece of work a justification of capitalism? Keynes sees the State as both the spender and the employer of last resort, thereby proposing a new role for the government (Skidelsky, 1998). He also suggests a new role for the private sector and reconsiders the interrelation between the two sectors. He is fully optimistic about this issue, which he considers as evolutionary. In addition, Keynes blurs the distinction between economics and sociology, advancing new interdisciplinary hints in his thinking. Keynes is also concerned on the epistemological role of assumptions in order to obtain defensible conclusions. Thereafter the British economist proposes new methods. He was a neo-realist and was against the inductive method. In addition, it can be stated that TGT is grounded on new psychological laws and motivations, that is, on a new vision of humankind, especially the analyzed chapter. His topics are the bypassing of Classical Economics; the destiny of macroeconomics in both theoretical and policy terms, highlighting new roles for interest rates; savers and rentiers; and the relevance of the concepts of ideas, interests and power. In all these respects Keynes is once again far ahead of his time. Finally a debatable topic dealt with by Keynes in Chapter 24 of TGT is 1 PhD in Economics, Lancaster University, UK; Professor-researcher at ISEC Universidad de Negocios, Mexico City. socialisation of investment. This is in words of Skidelsky, a shift in the balance of social power. Keynes is thus in Chapter 24 of TGT a visionary and an idealist, a reformer, and certainly a trans-generational thinker. When he talks about the passion of thriftiness and the setting of reasonable financial rewards arising from financial instruments he is advancing explications for financial crises in terms of speculation. The open conclusion is that Chapter 24 contains the gist of Keynes’s mature philosophical thinking and legacy, confirming that for him attitudes are one of the most relevant issues in life. In addition, he considers that both social and psychological elements are necessary for a thorough understanding of economic issues and their consequences, such as peace and happiness. Section 1 is an introduction. Section 2 is both a literature review and a summary of Keynes’s general philosophical insights. Section 3 is an analysis of Chapter 24 of TGT in the specific fields of Epistemology, Ethics, Ontology, and Political and Social Philosophy. Section 4 is a conclusion. References are listed at the end of the article. (shrink)

It is difficult to advance a point beyond what Keynes himself commented about his own vision in The General Theory of Employment, Interest and Money in 1936 (hereafter TGT) in its Chapter 24. It is also difficult to express a deeper thought than what Skidelsky wrote about Chapter 24 of TGT (cf. Skidelsky, 1997). The purpose of this article is to identify whether Chapter 24 of TGT is the gist of Keynes’s legacy, having set the foundations of macroeconomics in the (...) previous 23 Chapters. Relevant topics included in Chapter 24 are the consequences of full employment, the fate of income distribution, the future of overall wealth, the socialization of investment, saving, expectations, the role of the State in economies, the future of financial markets and the interaction between economics and other disciplines. Indeed this Chapter displays Keynes’s genius as a social philosopher, following the tradition of The Economics Possibilities for our Grandchildren (1930). In Chapter 24 he was taking a glance at his product as did Phillip II when he was observing the construction of his castle El Escorial in XVII Spain. Within his vision, is this piece of work a justification of capitalism? Keynes sees the State as both the spender and the employer of last resort, thereby proposing a new role for the government (Skidelsky, 1998). He also suggests a new role for the private sector and reconsiders the interrelation between the two sectors. He is fully optimistic about this issue, which he considers as evolutionary. In addition, Keynes blurs the distinction between economics and sociology, advancing new interdisciplinary hints in his thinking. Keynes is also concerned on the epistemological role of assumptions in order to obtain defensible conclusions. Thereafter the British economist proposes new methods. He was a neo-realist and was against the inductive method. In addition, it can be stated that TGT is grounded on new psychological laws and motivations, that is, on a new vision of humankind, especially the analyzed chapter. His topics are the bypassing of Classical Economics; the destiny of macroeconomics in both theoretical and policy terms, highlighting new roles for interest rates; savers and rentiers; and the relevance of the concepts of ideas, interests and power. In all these respects Keynes is once again far ahead of his time. Finally a debatable topic dealt with by Keynes in Chapter 24 of TGT is 1 PhD in Economics, Lancaster University, UK; Professor-researcher at ISEC Universidad de Negocios, Mexico City. socialisation of investment. This is in words of Skidelsky, a shift in the balance of social power. Keynes is thus in Chapter 24 of TGT a visionary and an idealist, a reformer, and certainly a trans-generational thinker. When he talks about the passion of thriftiness and the setting of reasonable financial rewards arising from financial instruments he is advancing explications for financial crises in terms of speculation. The open conclusion is that Chapter 24 contains the gist of Keynes’s mature philosophical thinking and legacy, confirming that for him attitudes are one of the most relevant issues in life. In addition, he considers that both social and psychological elements are necessary for a thorough understanding of economic issues and their consequences, such as peace and happiness. Section 1 is an introduction. Section 2 is both a literature review and a summary of Keynes’s general philosophical insights. Section 3 is an analysis of Chapter 24 of TGT in the specific fields of Epistemology, Ethics, Ontology, and Political and Social Philosophy. Section 4 is a conclusion. References are listed at the end of the article. Keywords: Keynes, philosophy of economics, social philosophy, epistemology, method, ethics, ontology, uncertainty, full employment, income distribution, wealth, euthanasia of the rentier, saving, socialization of investment, O’Donnell, Carabelli, Fitzgibbons, Skidelsky. (shrink)

Friedrich Nietzsche’s contribution to philosophy is mostly recognized in relation to moral philosophy. His distinction of master and slave morality, critique of the Judeo-Christian morality is what is commonly considered as the main contribution of his philosophy. How-ever, on the other hand, his examination of metaphysics and epistemology comprises fun-damental constituents to apprehend his philosophy. Accordingly, it can be said, Nietzsche’s approach towards morality and politics is a demonstration of his analysis of metaphysics and epistemology. Since the construction (...) of metaphysical and epistemological grounds precedes the construction of ethical systems, the critique of morality is presupposed by the critique of its metaphysical and epistemological foundations. Therefore, the focus of this paper will not be Nietzsche’s critique of morality and politics. Rather, it will critically examine his criticism of the metaphysical and epistemological ba-sis that by virtue of their structural fundamentality acquired the generative potential of values (moral, political, economic, etc.). In view of that, by exposing the vitality of Nie-tzsche’s critique in his discourse on nihilism, the analysis will try to claim the conceptual centrality of nihilism in his philosophy. Furthermore, assert the possible understandability of his critique and discourse, which is mostly concentrated on the advent of European ni-hilism and its countermovement. (shrink)

The paper aims to investigate some aspects of Ernst Mach’s epistemology in the light of the problem of human orientation in relation to the world (Weltorientierung), which is a main topic of Western philosophy since Kant. As will be argued, Mach has been concerned with that problem, insofar as he developed an original pragmatist epistemology. In order to support my argument, I firstly investigate whether Mach defended a nominalist or a realist account of knowledge and compare his view (...) to those elaborated by other pragmatist thinkers, such as W. James, H. Vaihinger and H. Poincaré. Secondly, the question of what does it mean, for Mach, to orient ourselves in science is addressed. Finally, it will be argued that, although Mach tried to keep his epistemology restricted to a mere operational and economical account of science, that question involves the wider plane of practical philosophy. (shrink)

Abstract. Competition between developed and developing countries in developing the defense industry in the era of globalization has crossed the boundaries of a country's alliances. However, in the transfer of technology (ToT) process, it remains the object of domination by large countries, and developing countries remain confined in a rigid bureaucracy. Researchers offer a problem-solving approach to developing the defense industry experienced by developing countries. The researcher's first step describes the bureaucracy of developing countries, and then the researcher projects the (...) development of a strategy as a solution. The researcher realizes that the trial and error approach offered by Karl R. Popper demands further testing, so the researcher also explains the weaknesses of the solutions offered. The researcher concludes that the Problem-Solving approach can solve problems and anticipate problems. Problem-Solving is no longer seen as containing a simple method but an epistemology; Solutions appear before the problem itself appears. The researcher corrected the problem- solving position, as explained by Ian Angus, who moved from one line to a new line continuously. Researchers see not moving lines and continuing but reality entering a broader flow. (shrink)

This article is a theoretical treatment of the ways in which local worldviews on wealth acquisition give rise to contemporary manifestations of spirituality in cyberspace. It unpacks spiritual (occult) economies and wealth generation through a historical perspective. The article ‘devil advocates’ the ‘sainthood’ of claimed law-abiding citizens, by highlighting that the line dividing them and the Nigerian cybercriminals (Yahoo-Boys) is blurred with regards to the use of magical means for material ends. By doing so, the article also illustrates that the (...) intersectionality of the spirit world and the acquisition of wealth (crime or otherwise) is connected with local epistemologies and worldviews, and its contemporaneity has social security benefits. Therefore, the view that the contemporary manifestations of spirituality in cyberspace signify a ‘new-danger’ and an ever-increasing outrage in the Nigerian society is misplaced. I conclude that if people believe all aspects of life are reflective of the spiritual world and determined by it, the spiritual realm, by implication, is the base of society, upon which sits the superstructure comprised of all aspects of life, especially wealth. Inferentially, this conceptual position that the spirit world is the base of society is an inversion of Orthodox Marxist’s theory of economic determinism. (shrink)

Epistemic burdens – the nature and extent of our ignorance (that and how) with respect to various courses of action – serve to determine our incentive structures. Courses of action that seem to bear impossibly heavy epistemic burdens are typically not counted as options in an actor’s menu, while courses of action that seem to bear comparatively heavy epistemic burdens are systematically discounted in an actor’s menu relative to options that appear less epistemically burdensome. That ignorance serves to determine what (...) counts as an option means that epistemic considerations are logically prior to moral, prudential, and economic considerations: in order to have moral, prudential, or economic obligations, one must have options, and epistemic burdens serve to determine our options. One cannot have obligations without doing some epistemic work. We defend this claim on introspective grounds. We also consider how epistemic burdens distort surrogate decision-making. The unique epistemology of surrogate cases makes the priority of the epistemic readily apparent. We then argue that anyone who accepts a principle similar to ought implies can is committed to the logical priority of the epistemic. We also consider and reject several possible counterarguments. -/- . (shrink)

A conception of legitimacy is at the core of normative theories of democracy. Many different conceptions of legitimacy have been put forward, either explicitly or implicitly. In this article, I shall first provide a taxonomy of conceptions of legitimacy that can be identified in contemporary democratic theory. The taxonomy covers both aggregative and deliberative democracy. I then argue for a conception of democratic legitimacy that takes the epistemic dimension of public deliberation seriously. In contrast to standard interpretations of epistemic democracy, (...) however, the conception I put forward avoids procedure-independent standards of correctness. Instead, it relies on a procedural social epistemology and defines legitimacy entirely in terms of the fairness of procedures. I call this conception of democratic legitimacy `Pure Epistemic Proceduralism'. I shall argue that it should be preferred over `Rational Epistemic Proceduralism', the conception of legitimacy that underlies the standard interpretation of epistemic democracy. Key Words: legitimacy • deliberative democracy • epistemic democracy • social epistemology. (shrink)

The article focuses on the anti-naturalism of Menger and Mises. It presents a methodological approach formulated by both scholars as stemming from epistemological anti-naturalism and demonstrating similarities to social phenomenology. The article also discusses the development of the anti-naturalistic perspective on the basis of Hayek’s conception of sensory order. The latter allowed addressing the problem of validity of methodological dualism and established a sound foundation for the methodological approach of the Austrian School of Economics.

Ludwig von Mises’s methodological apriorism is frequently attributed to the broader Austrian School of economics, of which, of course, Mises was a prominent member. However, there is considerable controversy concerning the meaning of Mises’s various attempts to justify his apriorism. There are prima facie inconsistencies within and across Mises’s methodological writings that engender massive confusion in the secondary literature. This confusion is aggravated by the fact that Mises’s apriorism cannot be straightforwardly interpreted as an artifact of his historical milieu. (...) Indeed, the two prevailing families of interpretation both treat Mises’s apriorism as radically anachronistic, albeit in different senses. According to “extreme” interpretations, Mises’s apriorism reflects an epistemology several decades, if not centuries, beyond its expiration date. According to “moderate” interpretations, however, Mises’s apriorism anticipates ideas that would not appear in the epistemological literature for several decades to come. Finally, there is evidence to suggest that Mises’s actual methodological beliefs are not reflected in his writings, that Mises either obfuscated or exaggerated his methodological position, for whatever reasons, making it seem more radical than it was in fact. I conclude that we have no idea what justification Mises actually intended when he asserted the a priori nature of the fundamental propositions of economics. If this is right, then, whatever method(s) they follow, Austrian economists cannot (deliberately) follow Mises’s apriorism. (shrink)

Materialism has been the subject of extensive and rich controversies since Robert Boyle introduced the term for the first time in the 17th century. But what is materialism and what can it offer today? The term is usually defined as the worldview according to which everything real is material. Nevertheless, there is no philosophical consensus about whether the meaning of matter can be enlarged beyond the physical. As a consequence, materialism is often defined in stark exclusive and reductionist terms: whatever (...) exists is either physical or ontologically reducible to it. This conception, if consistent, mutilates reality, excluding the ontological significance of political, economic, sociocultural, anthropological and psychological realities. Starting from a new history of materialism, the present book focuses on the central ontological and epistemological debates aroused by today’s leading materialist approaches, including some little known to an anglophone readership. The key concepts of matter, system, emergence, space and time, life, mind, and software are checked over and updated. Controversial issues such as the nature of mathematics and the place of reductionism are also discussed from different materialist approaches. As a result, materialism emerges as a powerful, indispensable scientifically-supported worldview with a surprising wealth of nuances and possibilities. (shrink)

Development of the world economy bears numerous negative phenomena, and require constant need to rebalance socioeconomic interests of nations, transnational subjects, and individuals. Socialisation is an important and effective tool for balancing social and individual; however, despite socialisation is evolving rapidly, its scientific and practical potential is not duly uncovered. In the article theoretical and methodological foundations of socialisation of economy is surveyed in the context of globalisation, and etymology, explanations, scope, historical phases of development, theoretical aspects and practical forms (...) of use, consequences and prospects are analysed. The term «socialisation» was determined as a multidisciplinary, used in many scientific fields, increasingly involving various areas of research and is understood as inclusion, adaptation and development of human being in society. It was determined that the economy socialisation is implemented in different fields and semantic structures, contains a large number of methodological tools, is involved at all management levels, and is primarily identified with the increasing role of social component in the life of human resources. The assumptions were made about the future transformation of this category in line with the identified predictive trends. (shrink)

This article surveys recent developments in the epistemology of modality.

Root, branch, and blossom, attention is intertwined with epistemology. It is essential to our capacity to learn and decisive of the evidence we obtain, it influences the intellectual connections we forge and those we remember, and it is the cognitive tool whereby we enact decisions about inquiry. Moreover, because it is both an epistemic practice and a site of agency, attention is a natural locus for questions about epistemic morality. This article surveys the emerging epistemology of attention, reviewing (...) the existing literature and sketching avenues for future investigation. It also argues for a reorientation of epistemology itself. This argument is the focus of Section 1. Section 2 briefly reviews philosophical accounts of attention, Section 3 focuses on issues in traditional, individualistic epistemology, and Section 4 turns to social epistemology. (shrink)

We evaluate the asymptotic performance of boundedly-rational strategies in multi-armed bandit problems, where performance is measured in terms of the tendency (in the limit) to play optimal actions in either (i) isolation or (ii) networks of other learners. We show that, for many strategies commonly employed in economics, psychology, and machine learning, performance in isolation and performance in networks are essentially unrelated. Our results suggest that the appropriateness of various, common boundedly-rational strategies depends crucially upon the social context (if (...) any) in which such strategies are to be employed. (shrink)

This paper outlines the methodological and empirical limitations of analysing the potential relationship between complex social phenomena such as democracy and inequality. It shows that the means to assess how they may be related is much more limited than recognised in the existing literature that is laden with contradictory hypotheses and findings. Better understanding our scientific limitations in studying this potential relationship is important for research and policy because many leading economists and other social scientists such as Acemoglu and Robinson (...) mistakenly claim to identify causal linkages between inequality and democracy but at times still inform policy. In contrast to the existing literature, the paper argues that ‘structural’ or ‘causal’ mechanisms that may potentially link the distribution of economic wealth and different political regimes will remain unknown given reasons such as their highly complex and idiosyncratic characteristics, fundamental econometric constraints and analysis at the macro-level. Neither new data sources, different analysed time periods nor new data analysis techniques can resolve this question and provide robust, general conclusions about this potential relationship across countries. Researchers are thus restricted to exploring rough correlations over specific time periods and geographic contexts with imperfect data that are very limited for cross-country comparisons. (shrink)

To understand fully the contemporary imposition of capitalist class power, we need to consider not only social relations and neoliberal economic doctrines, but also academic and vernacular cultural contexts, including social critique, within which neoliberalism has been ideologically tailored and practically applied. Among the vernacular cultural contexts, religion – related to deepest human identifications, feelings and ideas about the nature of reality – certainly represents such an unavoidable political resource, inseparable from secular ideologies of a given social world. Taking this (...) into account, we will try to show how neoliberalism was built in a specific context, developing governmental approaches relative to elements of progressive critique, and has eventually succeeded to legitimize new mechanisms of capitalist accumulation, linking them, among other things, to specific religious “externalities”. We will suggest that the satisfactory explanation of profound changes in the contemporary religious life, referred to as the emergence of “New Age spirituality”, is only possible if we understand them as an integral part of the processes of neoliberalization. This does not mean that we are trying to reduce a complex multitude of contemporary spiritual practices to a simple one-dimensional reflex of neoliberalization, but rather to suggest that only such an approach can complement the omissions and correct the misconceptions of various inquiries that analyze New Age spirituality using the frameworks of postmodern culture and/or consumer society. By doing this, we wil discuss not only countercultural spirituality, but also neoliberal social epistemology and different critical aproaches to understanding it. (shrink)

At the end of the 19th century, most professional historians – wherever they existed – deemed history to be a form of knowledge ruled by a method that bears no resemblance with those most commonly traceable in the natural sciences. The bulk of the historian’s task was then frequently regarded as being the application of procedures frequently referred to as ‘historical method’. In the context of such an emerging interest on historical methods and methodology, at least three textbooks stand out: (...) Johann Gustav Droysen’s Grundriss der Historik (Outline of the Theory of History), Ernst Bernheim’s Lehrbuch der historischen Methode (Handbook of Historical Method), and Charles Langlois and Charles Seignobos’s Introduction aux études historiques (Introduction to the Study of History). These books were quite influential in Germany, France, and elsewhere, and they very much helped promote a general idea of historical method that would become relatively consensual among historians of many nationalities by the early 20th century. Such a relative agreement on historical method sponsored both the communication and the development of a sense of disciplinary identity among historians trained within different and sometimes conflicting national traditions. It was then partially extended, partially challenged, and surely made more complex when, from the 1920s on, social and economic historians became a good part of the historiographical establishment in many countries. -/- The three books by Droysen, Bernheim, and Langlois and Seignobos were already pieced together by Rolf Torstendahl, who studied them as a group of texts that, despite their differences, contributed to shape the developments outlined above. However, Torstendahl’s primary aim was to show how Droysen, Bernheim, and Seignobos all resorted to ‘method’ as a way to circumvent skepticism against the possibility of historical knowledge, rather than investigate the internal interrelationships between the three texts. In this chapter I follow precisely this latter, not yet taken, road, focusing on crucial cross-references between the Grundriss, the Lehrbuch, and the Introduction. I intend to show that, at a general level, the schemes of historical method found in these texts are largely convergent, and that this convergence is due to Bernheim’s reading of Droysen and to Langlois and Seignobos’s reading of Bernheim. I will attempt to do it through a regressive approach that starts with an analysis of the Introduction. Aspects of the editorial history and circulation of the three texts will also be briefly addressed, as a way to illustrate their special importance within the framework of early 20th century historical theory. Because my argument calls for a focus on the most general lines of Droysen’s, Bernheim’s, and Langlois and Seignobos’s schemes of historical method, I will, for the sake of consistency, refrain from analysing in-depth the complex epistemological and ontological arguments in which those schemes are nested. (shrink)

Aspects of human symbolic evolution are studied by scholars active in a variety of fields and disciplines in the life and the behavioral sciences as well as the scientific-philosophical, sociological, anthropological, and linguistic sciences. These fields and disciplines all take on an evolutionary approach to the study of human symbolism, but scholars disagree in their theoretical and methodological attitudes. Theoretically, symbolism is defined differentially as knowledge, behavior, cognition, culture, language, or social group living. Methodologically, the diverse symbolic evolution sciences establish (...) their teachings upon diverging evolutionary biological schools and paradigms. This chapter reviews past and current research fields in human symbolic evolution for how they differentially implement tenets of the major evolution schools that were discussed in the previous chapter. Traditional evolutionary epistemology and biosemiotics bring in a mesoevolutionary outlook by drawing on early Darwinism and evolutionary developmental biology movements that emphasize the role of the organism in evolution. Communication studies instead originally take on a microevolutionary perspective by investigating how units of information are transmitted across generations through time. Only later do they integrate studies on meaning-making at the organismal level. Sociobiology complements a microevolutionary with a macroevolutionary outlook by implementing population genetic approaches, typical of the Modern Synthesis, into studies on individual and group behavior. The new symbolic evolutionary sciences build upon these traditions and include disciplines such as evolutionary psychology, evolutionary linguistics, evolutionary anthropology, evolutionary archaeology, evolutionary sociology, and evolutionary economics. Originally centered on implementing Darwinian selection theory, these fields are now including ecological and evolutionary developmental biology as well as reticulate evolutionary paradigms. As diverse in outlook and scope as they are, no discipline holds a privileged position over the other and all have made valuable contributions to our understanding of human symbolic evolution. (shrink)