Roughly speaking all economists can be divided into two groups--those who agree with Milton Friedman and those who do not. Both groups, however, espouse the view that science is a series of approximations to a demonstrated accord with reality. Methodological controversy in economics is now merely a Conventionalist argument over which comes first--simplicity or generality. Furthermore, this controversy in its current form is not compatible with one important new and up and coming economic (welfare) theory called "the theory of the (...) Second Best." In this paper I offer a Second Best meta-theory that says that (1) any compromise between simplicity and generality must yield a theory which is "third best" by these Conventionalist criteria; and (2) there exists a better way than a compromise. (shrink)

Nancy Cartwright claims that "Causality is a hot topic today both in philosophy and economics." She may be right about philosophers, but not when it comes to economists. Cartwright talks about "economics" but nothing she says about it corresponds to what is taught in economics classes. Today, economics is dominated by model builders—but not all models involve econometrics. While all model builders do respect an endogenous-exogenous distinction between variables, this distinction will not be on the basis of which type of (...) variable "causes" which, but on which variables are "determined" (and hence explained) by the model and those which are not. (shrink)

Concern about the role and the limits of modeling has heightened after repeated questions were raised regarding the dependability and suitability of the models that were used in the run-up to the 2008 financial crash. In this book, Lawrence Boland provides an overview of the practices of and the problems faced by model builders to explain the nature of models, the modeling process, and the possibility for and nature of their testing. In a reflective manner, the author raises (...) serious questions about the assumptions and judgments that model builders make in constructing models. In making his case, he examines the traditional microeconomics-macroeconomics separation with regard to how theoretical models are built and used and how they interact, paying particular attention to the use of equilibrium concepts in macroeconomic models and game theory and to the challenges involved in building empirical models, testing models, and using models to test theoretical explanations. (shrink)

This book is about forming effective critiques of neoclassical economics. Its focus is on constructive criticism of the foundations neoclassical theory, beginning with what Alfred Marshall called the `Principles of Economics'. It concludes that there is still much that can be done to make neoclassical economics more realistic.

Until quite recently, some economic methodologists (particularly, those who began their careers in the late 1970s) were of the opinion that Karl Popper was misguided about economics. Some others claimed that Popper said little about economics. Yet, many economics students who began their appreciation of Popper after reading his Open Society and Its Enemies have quickly realized how easy that book is to understand because it is a generalization of neoclassical economics in terms of both methodological individualism and situational analysis. (...) While today it might be easy to complain that basing one's understanding of Popper on neoclassical economics leads to a narrow and useless appreciation of Popper, this too is misleading. The problem is not neoclassical economics but neoclassical economists. After all, Popper himself thought the best way to teach economists about his views concerning methodology was to emphasize that his views can easily be understood as a generalization of neoclassical economics. (shrink)

David Hume’s Treatise on Human Nature famously fell `deadborn from the press’ because it was too far ahead of its time. Basu’s book is one of a number published in recent years that suggest we are at last ready to put its precepts into action.1 Modern game theory provides a framework that makes Hume’s insights genuinely applicable, and I totaly agree with Basu that this is not only the right way forward, but that it now looksincreasingly likely that this is (...) the road that wil actualy be folowed ± not only in political economy, but across the board in the social sciences. (shrink)

Until the late 1970s, it was difficult publishing economic methodology research in any mainstream economics journal. Today there are at least two journals devoted to articles about economic methodology. However, it is important to keep in mind that there are two types of economic methodology. There is what has been called small-m methodology which is about the assumptions made by economic model builders, and there is big-M methodology which is about matters of interest to philosophers but not to economists. The (...) recent history of economic methodology literature and conferences has displayed the hijacking of economic methodology research by philosophers with the result that those of us who wish to do research on small-m methodology are back where we were in the 1960s and 1970s. (shrink)

continues to receive many reviews. Judging by recent reviews, this is a very controversial book. The question considered here is, how can one fairly review a controversial book—particularly when the book is widely popular and, for a history of economic thought book, a best seller? This essay uses Mirowski’s book as a case study to propose one answer for this question. In the process, it will examine how others seem to have answered this question. Key Words: methodology • reviews • (...) Mirowski • Machine Dreams. (shrink)

In recent years consciousness has become a significant area of study in the cognitive sciences. The Frontiers of Consciousness is a major interdisciplinary exploration of consciousness. The book stems from the Chichele lectures held at All Souls College in Oxford, and features contributions from a 'who's who' of authorities from both philosophy and psychology. The result is a truly interdisciplinary volume, which tackles some of the biggest and most impenetrable problems in consciousness. The book includes chapters considering the apparent explanatory (...) gap between science and consciousness, our conscious experience of emotions such as fear, and of willed actions by ourselves and others. It looks at subjective differences between two ways in which visual information guides behaviour, and scientific investigation of consciousness in non-human animals. It looks at the challenges that the mind-brain relation presents for clinical practice as well as for theories of consciousness. The book draws on leading research from philosophy, experimental psychology, functional imaging of the brain, neuropsychology, neuroscience, and clinical neurology. Distinctive in its accessibility, authority, and its depth of coverage, Frontiers of Consciousness will be a groundbreaking and influential addition to the consciousness literature. (shrink)

The context in which Thomas Aquinas reflects on teaching is discussed, as are the texts in which he does so. We learn how he understands teaching from two other considerations, how he went about the task, and the pedagogical concerns that persist through his writing career. The most important source for his convictions about pedagogy is the Bible, and Jesus is ‘the most excellent of teachers’. His account of teaching is ultimately theological, then, in line with his concerns in Summa (...) theologiae, such that creation may be understood as teaching and redemption as learning. (shrink)

Although Foucault was clearly a critical thinker, his approach also provides for the possibility of a genealogy of critique. Such an approach problematizes critique, and I trace the emergent problematization of critique in Foucault’s later works, and briefly in Latour and Boltanski. From this I move on to the ‘critical problematic’, that is, how critique operates as a form of power/knowledge, as a discourse that creates subjects through a critical regime of truth and critical truth-games. Specifically, I argue that critique (...) is a discourse which transforms and unmasks other ‘truth-claims’, replacing them with a starker vision of reality, which in the end is also a specific cultural vision. To elaborate this view, I return to Foucault’s discussion of Kant, his late lectures on Cynicism and also on ordo-liberalism. The wider circulation of critical discourses is demonstrated through an analysis of ‘cool’ or critical consumerism. In conclusion, the relationship between critique, crisis and modernity is considered. (shrink)

Prior to the twentieth century, theories of knowledge were inherently perceptual. Since then, developments in logic, statis- tics, and programming languages have inspired amodal theories that rest on principles fundamentally different from those underlying perception. In addition, perceptual approaches have become widely viewed as untenable because they are assumed to implement record- ing systems, not conceptual systems. A perceptual theory of knowledge is developed here in the context of current cognitive science and neuroscience. During perceptual experience, association areas in the (...) brain capture bottom-up patterns of activation in sensory-motor areas. Later, in a top-down manner, association areas partially reactivate sensory-motor areas to implement perceptual symbols. The stor- age and reactivation of perceptual symbols operates at the level of perceptual components – not at the level of holistic perceptual expe- riences. Through the use of selective attention, schematic representations of perceptual components are extracted from experience and stored in memory (e.g., individual memories of green, purr, hot). As memories of the same component become organized around a com- mon frame, they implement a simulator that produces limitless simulations of the component (e.g., simulations of purr). Not only do such simulators develop for aspects of sensory experience, they also develop for aspects of proprioception (e.g., lift, run) and introspec- tion (e.g., compare, memory, happy, hungry). Once established, these simulators implement a basic conceptual system that represents types, supports categorization, and produces categorical inferences. These simulators further support productivity, propositions, and ab- stract concepts, thereby implementing a fully functional conceptual system. Productivity results from integrating simulators combinato- rially and recursively to produce complex simulations. Propositions result from binding simulators to perceived individuals to represent type-token relations. Abstract concepts are grounded in complex simulations of combined physical and introspective events. Thus, a per- ceptual theory of knowledge can implement a fully functional conceptual system while avoiding problems associated with amodal sym- bol systems. Implications for cognition, neuroscience, evolution, development, and artificial intelligence are explored. (shrink)

This article considers `critique' as performative, being on the one hand a reiterative performance, that enacts the `critic' through the act of critique, and on the other hand reflecting the constitution of the subject. While this approach takes on the conceptual framework of Judith Butler's work, it differs by refusing critique — or its correlates; parody, subversion or similar — any special status. Like any other performance critique is taken here as a cultural practice, as a Foucauldian `technique of self', (...) though the complex genealogy of such a technique lies outside the scope of this article. In order to illustrate this argument I interpret a number of Butler's prefaces, interviews and digressions which diverge from her own theoretical framework, and argue that these `fictions' arise from critical `disavowals': that is, a `self-transformative' turn against power. The subjective `crisis' that prompts critique is then elaborated by comparison to Girard's work on imitation and sacrifice. (shrink)

While Latour criticises the tautologies of the ‘sociologists of the social’ as an intellectual shortcut, here sociology in the broadest sense is reconsidered as informed by unrecognised theological ideas, inter alia. Durkheim’s classic account of religion, wherein ‘society is God’ is taken as a starting point to explore the intersection of sociology and theology. Thereafter the article examines three social theorists, Elias, Giddens and Boltanski, each of whom attempt a re-casting of sociology, yet rearticulate theological models. In particular, this includes (...) an ontological conception of society, structure or system in terms of over-arching and invisible forces which is derived – inter alia – from religious models of divine will and providential order, which incorporates human choice – or agency in contemporary parlance. Accompanying this ontology is an epistemology of deciphering ‘deeper’ or ‘structural’ or ‘transcendent’ aspects of society by observing trends, cases or culture, akin to divining the providential will by observing its manifestations, which can be conducted in a more critical or forgiving manner. By examining these theological strands which persist in sociology, this aim is not to critically repudiate them, but to recognise the productive contribution of these models of thinking to imagining the ‘social’. (shrink)

Plausibility models are Kripke models that agents use to reason about knowledge and belief, both of themselves and of each other. Such models are used to interpret the notions of conditional belief, degrees of belief, and safe belief. The logic of conditional belief contains that modality and also the knowledge modality, and similarly for the logic of degrees of belief and the logic of safe belief. With respect to these logics, plausibility models may contain too much information. A proper notion (...) of bisimulation is required that characterises them. We define that notion of bisimulation and prove the required characterisations: on the class of image-finite and preimage-finite models, two pointed Kripke models are modally equivalent in either of the three logics, if and only if they are bisimilar. As a result, the information content of such a model can be similarly expressed in the logic of conditional belief, or the logic of degrees of belief, or that of safe belief. This, we found a surprising result. Still, that does not mean that the logics are equally expressive: the logics of conditional and degrees of belief are incomparable, the logics of degrees of belief and safe belief are incomparable, while the logic of safe belief is more expressive than the logic of conditional belief. In view of the result on bisimulation characterisation, this is an equally surprising result. We hope our insights may contribute to the growing community of formal epistemology and on the relation between qualitative and quantitative modelling. (shrink)