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Hahn on Methodology: The Quest for Understanding addresses two fundamental questions: (i) what is distinctive about economic theorising?; (ii) what is the cognitive value of the outcome of this activity of economic theorising, i.e. economic theory. We will argue that for Hahn, economic theorising is distinctive with respect to four dimensions. Firstly, the aim of economic theory is neither to describe nor explain the real economic world, as in the physical sciences. Rather the aim is to achieve objective, but non-scientific, understanding. Secondly, the central question for economic theory remains for Hahn how to understand, but not to predict as in physics for instance, how decentralised choices interact and perhaps get co-ordinated. Thirdly, Hahn identifies ‘three commitments’ without which, he argues, economic theorising for him is not possible. Finally, economic theorising has a distinctive approach, which Hahn calls its ‘grammar of argumentation’ .
Book Synopsis Hahn and Economic Methodology by : Thomas Boylan
Download or read book Hahn and Economic Methodology written by Thomas Boylan and published by Routledge. This book was released on 2012-03-15 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hahn on Methodology: The Quest for Understanding addresses two fundamental questions: (i) what is distinctive about economic theorising?; (ii) what is the cognitive value of the outcome of this activity of economic theorising, i.e. economic theory. We will argue that for Hahn, economic theorising is distinctive with respect to four dimensions. Firstly, the aim of economic theory is neither to describe nor explain the real economic world, as in the physical sciences. Rather the aim is to achieve objective, but non-scientific, understanding. Secondly, the central question for economic theory remains for Hahn how to understand, but not to predict as in physics for instance, how decentralised choices interact and perhaps get co-ordinated. Thirdly, Hahn identifies ‘three commitments’ without which, he argues, economic theorising for him is not possible. Finally, economic theorising has a distinctive approach, which Hahn calls its ‘grammar of argumentation’ .
Frank Hahn's powerful critiques of current economic methodology and innovative reconstructions of economic theorizing have long challenged the views of practising economists. This is the first book-length study of Hahn's methodological writings, and is essential reading for any scholar with an interest in the philosophy of economics.
Book Synopsis Hahn and Economic Methodology by : Thomas A. Boylan
Download or read book Hahn and Economic Methodology written by Thomas A. Boylan and published by Psychology Press. This book was released on 2012 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: Frank Hahn's powerful critiques of current economic methodology and innovative reconstructions of economic theorizing have long challenged the views of practising economists. This is the first book-length study of Hahn's methodological writings, and is essential reading for any scholar with an interest in the philosophy of economics.
'No reality please. We're economists'. There is a wide spread belief that modern economics is irrelevant to the understanding of the real world. In a controversial and original study, Tony Lawson argues that the root of this irrelevance is in the failure of economists to find methods and tools which are appropriate for the social world it addresses
Book Synopsis Economics and Reality by : Tony Lawson
Download or read book Economics and Reality written by Tony Lawson and published by Routledge. This book was released on 1997-01-02 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'No reality please. We're economists'. There is a wide spread belief that modern economics is irrelevant to the understanding of the real world. In a controversial and original study, Tony Lawson argues that the root of this irrelevance is in the failure of economists to find methods and tools which are appropriate for the social world it addresses
This sequel to Frank Hahn's "Equilibrium and Macroeconomics" presents his theoretical work published over the past thirty years. The twentyone contributions have been selected on the basis of their relevance to current economic debate, and they comprise some of Hahn's most widely cited and influential essays.Organized in five parts - Money, Non-Walrasian Equilibria, Stability, Growth, and Miscellaneous - most of the essays concentrate on monetary theory and economic dynamics (or stability). In the first instance, Hahn shows that classical Arrow-Debreu general equilibrium theory cannot be used for monetary theory. A reconstruction of this theory turns out to have some surprising welfare economics implications. Concerning dynamics, Hahn's main preoccupations are with price dynamics that allow trading at "false" prices and with the stability of growth equilibrium with heterogeneous capital goods, which remains important to current theorizing on rational expectations equilibria.The remaining essays cover a variety of topics such as the influence of uncertainty on savings and excess capacity in imperfect competition. The book also includes an introduction by Hahn commenting on each essay, and his Jevons Lecture, "In Praise of Economic Theory."Frank Hahn is Professor of Economics at the University of Cambridge and the author of "Equilibrium and Macroeconomics" (MIT Press 1985) and "Money and Inflation "(an MIT Press paperback).
Book Synopsis Money, Growth and Stability by : Frank Hahn
Download or read book Money, Growth and Stability written by Frank Hahn and published by Wiley-Blackwell. This book was released on 1985-01-01 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sequel to Frank Hahn's "Equilibrium and Macroeconomics" presents his theoretical work published over the past thirty years. The twentyone contributions have been selected on the basis of their relevance to current economic debate, and they comprise some of Hahn's most widely cited and influential essays.Organized in five parts - Money, Non-Walrasian Equilibria, Stability, Growth, and Miscellaneous - most of the essays concentrate on monetary theory and economic dynamics (or stability). In the first instance, Hahn shows that classical Arrow-Debreu general equilibrium theory cannot be used for monetary theory. A reconstruction of this theory turns out to have some surprising welfare economics implications. Concerning dynamics, Hahn's main preoccupations are with price dynamics that allow trading at "false" prices and with the stability of growth equilibrium with heterogeneous capital goods, which remains important to current theorizing on rational expectations equilibria.The remaining essays cover a variety of topics such as the influence of uncertainty on savings and excess capacity in imperfect competition. The book also includes an introduction by Hahn commenting on each essay, and his Jevons Lecture, "In Praise of Economic Theory."Frank Hahn is Professor of Economics at the University of Cambridge and the author of "Equilibrium and Macroeconomics" (MIT Press 1985) and "Money and Inflation "(an MIT Press paperback).
Book Synopsis Unprovable Truths and the Hahn-proposition by : W. D. A. Bryant
Download or read book Unprovable Truths and the Hahn-proposition written by W. D. A. Bryant and published by . This book was released on 1978 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Presents a collection of articles previously published in the Review of Social Economy (1996) and in Ekonomia (1997). These articles extend insights from critical realism into the fields of economic methodology and economic theory in such a way as to open up new forms of investigation in economics and transform the nature of economic reasoning. It is argued that the specific value of this approach is that it directs attention to the structures and capacities that explain the observed phenomena of economic life. This volume includes papers from authors critical of this approach, as well as from those who discuss its full implications for contemporary economics. Paper edition (19568-3), $27.99. Annotation copyrighted by Book News, Inc., Portland, OR
Book Synopsis Critical Realism in Economics by : Steve Fleetwood
Download or read book Critical Realism in Economics written by Steve Fleetwood and published by Psychology Press. This book was released on 1999 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a collection of articles previously published in the Review of Social Economy (1996) and in Ekonomia (1997). These articles extend insights from critical realism into the fields of economic methodology and economic theory in such a way as to open up new forms of investigation in economics and transform the nature of economic reasoning. It is argued that the specific value of this approach is that it directs attention to the structures and capacities that explain the observed phenomena of economic life. This volume includes papers from authors critical of this approach, as well as from those who discuss its full implications for contemporary economics. Paper edition (19568-3), $27.99. Annotation copyrighted by Book News, Inc., Portland, OR
Roger Backhouse is a key figure in the field of economic methodology. Explorations in Economic Methodology both clarifies and responds to the issues raised by the literature and argues that methodology is an essential activity. Offering a constructive, but critical, response to the recent literature, this collection provides important new insights for students and researchers in economic methodology and the philosophy of science.
Book Synopsis Explorations in Economic Methodology by : Roger E. Backhouse
Download or read book Explorations in Economic Methodology written by Roger E. Backhouse and published by Routledge. This book was released on 2006-10-19 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Roger Backhouse is a key figure in the field of economic methodology. Explorations in Economic Methodology both clarifies and responds to the issues raised by the literature and argues that methodology is an essential activity. Offering a constructive, but critical, response to the recent literature, this collection provides important new insights for students and researchers in economic methodology and the philosophy of science.
When President Reagan and Prime Minister Thatcher adopted the neoliberal doctrine as the paradigm of economics, there was no evidence that the move would have been successful, but thirty years on, the recurrent crises that culminated in 2008 suggest a serious mis-match between expectations and outcomes: a re-examination of the paradigm is in order. This book focuses on Milton Friedman’s formulation of the neoliberal doctrine, and analyses two aspects that were essential to turning it into a fully-fledged paradigm: the attribution of scientific status to positive economics, which led to informing public policies on the requirements of the market; and the characterisation of economic freedom as capable of promoting political freedom, which led to identifying free market with democracy. The book exposes Friedman’s methodological argument for attributing positive economics scientific status as a failure, and his characterisation of economic freedom as a delusion; it identifies in the emergence as the mainstream in economics of the neoclassical synthesis, which borrowed from Walras’ the mathematical treatment of equilibrium but not the ethical and social framework in which it was inscribed, a development that facilitated the transition from the Keynesian to the neoliberal paradigm. Dr. Mosini shows that the gigantic bail-outs carried out courtesy of the public purse, which institutionalised the practice of collectivising losses while keeping profits private, were no accident, but the consequence of the rethinking of the function of lender of last resort according to Friedman’s conception of rationality in relation to risk, combined with his interpretation of the 1930s recession. The book concludes that the neoliberal paradigm has served the interests of the economically powerful social strata it was designed to benefit extremely well, but that the deep, and deepening, injustice it has brought about calls for a complete rethinking of the paradigm of economics according to ethical principles respectful of human values. This book should be of interest to students and researchers of Political Economy, Economic Methodology, History of Economic Thought and Philosophy.
Book Synopsis Reassessing the Paradigm of Economics by : Valeria Mosini
Download or read book Reassessing the Paradigm of Economics written by Valeria Mosini and published by Routledge. This book was released on 2011-07-28 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: When President Reagan and Prime Minister Thatcher adopted the neoliberal doctrine as the paradigm of economics, there was no evidence that the move would have been successful, but thirty years on, the recurrent crises that culminated in 2008 suggest a serious mis-match between expectations and outcomes: a re-examination of the paradigm is in order. This book focuses on Milton Friedman’s formulation of the neoliberal doctrine, and analyses two aspects that were essential to turning it into a fully-fledged paradigm: the attribution of scientific status to positive economics, which led to informing public policies on the requirements of the market; and the characterisation of economic freedom as capable of promoting political freedom, which led to identifying free market with democracy. The book exposes Friedman’s methodological argument for attributing positive economics scientific status as a failure, and his characterisation of economic freedom as a delusion; it identifies in the emergence as the mainstream in economics of the neoclassical synthesis, which borrowed from Walras’ the mathematical treatment of equilibrium but not the ethical and social framework in which it was inscribed, a development that facilitated the transition from the Keynesian to the neoliberal paradigm. Dr. Mosini shows that the gigantic bail-outs carried out courtesy of the public purse, which institutionalised the practice of collectivising losses while keeping profits private, were no accident, but the consequence of the rethinking of the function of lender of last resort according to Friedman’s conception of rationality in relation to risk, combined with his interpretation of the 1930s recession. The book concludes that the neoliberal paradigm has served the interests of the economically powerful social strata it was designed to benefit extremely well, but that the deep, and deepening, injustice it has brought about calls for a complete rethinking of the paradigm of economics according to ethical principles respectful of human values. This book should be of interest to students and researchers of Political Economy, Economic Methodology, History of Economic Thought and Philosophy.
This book collects Frank Hahn's less technical essays on economic theory. Marked by his unique blend of style, wit, and principle, they explore the concept of equilibrium and its "usefulness," the problematic role of money in the general equilibrium framework, and the shortcomings of monetarists, rational expectation ists, and neoRicardians. Frank Hahn is Professor of Economics at Cambridge University. His critique of monetarism, Money and Inflation, is an MIT Press paperback.
Book Synopsis Equilibrium and Macroeconomics by : Frank Hahn
Download or read book Equilibrium and Macroeconomics written by Frank Hahn and published by Cambridge, Mass. : MIT Press. This book was released on 1984 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects Frank Hahn's less technical essays on economic theory. Marked by his unique blend of style, wit, and principle, they explore the concept of equilibrium and its "usefulness," the problematic role of money in the general equilibrium framework, and the shortcomings of monetarists, rational expectation ists, and neoRicardians. Frank Hahn is Professor of Economics at Cambridge University. His critique of monetarism, Money and Inflation, is an MIT Press paperback.
Book Synopsis Method, Process, and Austrian Economics by : Ludwig Von Mises
Download or read book Method, Process, and Austrian Economics written by Ludwig Von Mises and published by Lexington, Mass. ; Toronto : Lexington Books. This book was released on 1982 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
