The Economic World View: Studies in the Ontology of EconomicsMaki The beliefs of economists are not solely determined by empirical evidence in direct relation to the theories and models they hold. Economists hold 'ontological presuppositions', fundamental ideas about the nature of being which direct their thinking about economic behaviour. In this volume, leading philosophers and economists examine these hidden presuppositions, searching for a 'world view' of economics. What properties are attributed to human individuals in economic theories, and which are excluded? Does economic man exist? Do markets have an essence? Do macroeconomic aggregates exist? Is the economy a mechanism, the functioning of which is governed by a limited set of distinct causes? What are the methodological implications of different ontological starting points? This collection, which establishes economic ontology as a coordinated field of study, will be of great value to economists and philosophers of social sciences. |
Contents
Economic ontology what? why? how? | 3 |
The empirical presuppositions of metaphysical explanations in economics | 15 |
Quality and quantity in economics the metaphysical construction of the economic realm | 32 |
The normative core of rational choice theory | 57 |
The virtual reality of homo economicus | 75 |
Expressive rationality is selfworth just another kind of preference? | 98 |
Agent identity in economics | 114 |
Chances and choices notes on probability and belief in economic theory | 132 |
Is macroeconomics for real? | 225 |
The possibility of economic objectivity | 246 |
Ceteris paribus laws and socioeconomic machines | 275 |
Tendencies laws and the composition of economic causes | 293 |
Economics without mechanism | 308 |
Sargents symmetry saga ontological versus technical constraints | 335 |
Two models of idealization in economics | 359 |
The way the world works www towards an ontology of theory choice | 369 |
Essences and markets | 157 |
The metaphysics of microeconomics | 174 |
Ontological commitments of evolutionary economics | 189 |
| 390 | |
| 395 | |
Other editions - View all
Common terms and phrases
action aggregate analysis argue argument Aristotle assumed assumption Bayesian behaviour beliefs Cambridge University Press causal ceteris paribus claim competition concept context deductive depends distinction econometric econometricians economic agents economic theory economists empirical entities equilibrium essential essentialist evolutionary economics evolutionary game theory evolutionary theory example explain fact factors firms fundamental human idea Idealization individual agents institutions interest interpretation Keynes kind laws Lévy stable distributions machines macroeconomic mechanism metaphysical Methodology Nash equilibria natural Nelson and Winter neoclassical economics normative notion objects ontological constraint Oxford particular patterns perfect competition phenomena Philosophy physics political possible predictions preferences presuppositions principle probability problem properties question rational choice theory rational expectations realism reality reason regularities relations relevant Rosenberg routines Sargent scientific self-regarding self-worth sense social supervenience suppose symmetry technical constraints theoretical theorists things tions utility value theory vector autoregressions wealth