A review of U. Mäki (ed.). Fact and Fiction in Economics, Cambridge: Cambridge University Press, 2003. pp. xvi 384. ISBN 0521 00957. As people interested mainly in theory, methodologists and philos...

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)

Metaphysics, morals and science -- The classics : value -- The neo-classics : utility -- The Keynesian revolution -- Development and under-development -- What are the rules of the game?

In this book, he applies economic theory to four areas of interest to students of social and legal institutions: the theory of justice, primitive and ancient ...

Introduction -- The commercialisation of science and the construction of the knowledge-based bio-economy -- The KBBE reality--the case of agriculture -- Intellectual property rights and the global commodification of knowledge -- Privatizing Chinese science : national development vs. neoliberal financialization -- Critical realism and the importance of ontological attention -- Critical realism and beyond in economics -- The realist transcendental argument.

Morality and economic rationality: integrative economic ethics as the rational ethics of economic activity; Part II. Reflections on the Foundations of Economic ...

There is an increasingly widespread belief, both within and outside the discipline, that modern economics is irrelevant to the understanding of the real world. Economics and Reality traces this irrelevance to the failure of economists to match their methods with their subject, showing that formal, mathematical models are unsuitable to the social realities economists purport to address. Tony Lawson examines the various ways in which mainstream economics is rooted in positivist philosophy and examines the problems this causes. (...) It focuses on human agency, social structure and their interaction and explores how the understanding of this social phenomena can be used to transform the nature of economic practice. Economics and Reality concludes by showing how this newly transformed economics might set about shaping economic policy. (shrink)

This paper examines why fundamental freedoms are so unevenly distributed across the earth. Climato-economic theorizing proposes that humans adapt needs, stresses, and choices of goals, means, and outcomes to the livability of their habitat. The evolutionary process at work is one of collectively meeting climatic demands of cold winters or hot summers by using monetary resources. Freedom is expected to be lowest in poor populations threatened by demanding thermal climates, intermediate in populations comforted by undemanding temperate climates irrespective of income (...) per head, and highest in rich populations challenged by demanding thermal climates. This core hypothesis is supported with new survey data across 85 countries and 15 Chinese provinces and with a reinterpretative review of results of prior studies comprising 174 countries and the 50 states in the United States. Empirical support covers freedom from want, freedom from fear, freedom of expression and participation, freedom from discrimination, and freedom to develop and realize one's human potential. Applying the theory to projections of temperature and income for 104 countries by 2112 forecasts that (a) poor populations in Asia, perhaps except Afghans and Pakistanis, will move up the international ladder of freedom, (b) poor populations in Africa will lose, rather than gain, relative levels of freedom unless climate protection and poverty reduction prevent this from happening, and (c) several rich populations will be challenged to defend current levels of freedom against worsening climato-economic livability. (shrink)

This essay disentangles the complex relations between economic logic and legal logic. It distinguishes economic logic as a social process from economic logic as economic reasoning; economic reasoning to explain behavior from economic reasoning to evaluate behavioral outcomes; and legal reasoning in judicial contexts from legal reasoning in other contexts such as legislation and legal enforcement or compliance. It then argues first that economic logic as the logic of social processes deepens our understanding of how law develops and how it (...) influences behavior. But the essay argues second that economic logic plays at best a limited role in the logic of legal reasoning for two reasons. Much legal reasoning seeks to identify the goals we should and do pursue while economic logic takes such goals as given. Further, the instrumental role of economic logic will vary with the institutional context in which legal reasoning occurs. (shrink)

He addresses three main issues: first, the historical means by which economics has consciously surrendered its original association with ethical categories and criteria; second, the need to articulate the appropriate thoughtforms and vocabulary of ethical theory; and third, the illustration of areas in economics where ethical awareness is desirable and should be allowed to exert influence.

The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts of (...) F. A. Hayek. (shrink)

The book investigates the relationship between the economic and political writings of four seminal authors: Adam Smith, Karl Marx, Joseph A. Schumpeter, and..

The essay proceeds from the assumptions that for a economic/political integration group to succeed, first, its participants’ motives should ideally be as alike as possible and not oppose one another and, second, their expectations from integration should correspond to the organisation’s capabilities. In light of these assumptions, the study endeavours to assess the Eurasian Economic Union’s (EAEU) potential for stability and development. First, the author analyses the key motives that were driving its member states’ decisions to enter the organisation, compares (...) them with one another and discusses how the countries’ motives influence their conduct in the union. Second, the author confronts those motives against the EAEU’s activities and the general logic of interstate politics on the post-Soviet space to reckon up whether the bloc’s capabilities fit with the expectations of its member countries. Finally, based on that discussion, the author speculates on how the divergence/convergence of EAEU member states’ goals, as well as the (in-)feasibility of their expectations, affect the organisation’s development. (shrink)

Understanding moral philosophy can help one to do economics better, and philosophers can learn by drawing on economic insights and analytical tools. This book argues that standard views of rationality lead economists to espouse questionable moral principles, and discusses methods of economic evaluation in terms of welfare and other moral criteria. It also contains a brief discussion of the relevance of social choice and game theory to philosophy. There is a glossary and at the end of each chapter are (...) suggestions for further reading. (shrink)

. History of the concept of economic efficiency . INTRODUCTION James Buchanan won the Nobel Prize by proving that the process by which elected officials ...

Can modern economics adequately embrace ethical issues or does its theoretical apparatus prohibit such a relationship? In December 1994, social scientists from the fields of economics, philosophy, political science and anthropology attended a workshop to discuss the current state of the economics-ethics nexus by way of examining both past and contemporary practice. The proceedings of this conference presented a wide variety of attitudes and includes an examination of economics and ethics from an economist and a philosopher's (...) perspective, in order to assess the contemporary implications of the relationship, and in the late nineteenth century against the background of a long utilitarian tradition. This is a set of stimulating reflections by practitioners - including Chin Liew Ten, Bob Coats and Geoffrey Brennan - on the tricky associations between economics and ethics. (shrink)

An anthology of works on the philosophy of economics, including classic texts and essays exploring specific branches and schools of economics. Completely revamped, this edition contains new selections, a revised introduction and a bibliography. The volume contains 26 chapters organized into five parts: Classic Discussions, Positivist and Popperian Views, Ideology and Normative Economics, Branches and Schools of Economics and Their Methodological Problems and New Directions in Economic Methodology. It includes crucial historical contributions by figures such as (...) Mill, Marx, Weber, Robbins, Knight, and Veblen and works by most of the leading contemporary figures writing on economic methodology, including five Nobel Laureates in Economics. (shrink)