Economic Objects And The Objects Of Economics
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Economic Objects and the Objects of Economics
This book examines the nature of economic objects that form the subject matter of economics, and studies how they resemble or differ from the objects studied by the natural sciences. It explores the question of whether economic objects created by modern economics sufficiently represent economic reality, and confronts the question whether tools, techniques and the methodology borrowed from the natural sciences are appropriate for the analysis of economic reality. It demonstrates the unsustainability of rational choice theory. It looks at economic agents, such as individuals, groups, legally constituted entities, algorithms, or robots, how they function and how they are represented in economics. The volume further examines the extent, if any, that mathematics can represent the objects of the economy, such as supply and demand, equilibrium, marginal utility, or the money supply as they actually occur in the economy, and as they are represented in economics. Finally, the volume explores whether the subject matter of economics – however defined – is the proper subject of theoretical knowledge, whether economics is an analytic or a descriptive discipline, or if it is more properly seen in the domain of practical reason. Specifically, the book looks at the importance and the ambiguity of the ontology of modern economics, temporality, reflexivity, the question of incommensurability, and their implications for economic policy.
Words, Objects and Events in Economics
This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.
Positive Economics and Policy Objectives
This book examines important issues on the relationship between economics and political values or ideologies, by analysing the main branches of economic theory in an historical perspective and their impact on economic policy. The book is structured as follows: Part I: Positive Economics? 1. The Positive-Normative Distinction in the History of Economic Thought Part II: Policy Objectives 2. The Objectives of Economic Policies: An Historical Review