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)

In this article, I offer a methodological analysis of the empirical research on the causal effects of trade liberalisation, and assess whether such studies can be of any use for guiding policy prescriptions in real-world economies. The analysis focuses on the mainstream economic research that has been used to support arguments in favour of trade liberalisation during the last decades. Even though there are empirical results that could be taken as valid evidence for a causal connection between free trade and (...) economic gains, none of the existing evidence licences trustworthy inferences about the policy effectiveness of trade liberalisation reforms in real-world cases. There are three aspects of the empirical literature that make it highly problematic for making reliable policy inferences: (a) the criteria used to define the notion of ‘free trade’, (b) the background assumptions embedded in the econometric techniques used for estimating causal effects, and (c) the widespread desire among academic economists to attain scientific results in terms of universally valid generalisations. The analysis exposes a worrisome mismatch between, on the one hand, the research aims and outcomes of scientific economics and, on the other, the kind of evidence that would be useful for guiding actual policy deliberations. (shrink)

Introduction to the Inaugural Issue of the Erasmus Journal for Philosophy and Economics.

What are the roles of scientific causal knowledge in relation to the evidential requirements of policy making? In this chapter, I review the existing approaches in philosophy of science to the policy relevance of causal knowledge. I assess the specific concerns and questions on which these philosophical accounts have focused and show how they only offer a partial perspective of the relation between causal knowledge and policy making. Most existing views are top-down approaches: they start from philosophical concerns about causation (...) and evidence, and then make general claims about (potential) policy implications, but leave the notion of “policy” unanalyzed. As an alternative, I put forward some ideas toward a bottom-up approach: one that understands policy making as a dynamic process with several stages, and that starts from concrete policy problems, to then examine how causal notions and methods can contribute in various ways to the specifics of the process of policy making. (shrink)