Microfoundations Method And Causation
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Microfoundations, Method, and Causation
In Microfoundations, Method, and Causation, Daniel Little combines a purely philosophical perspective on social science, with the theoretical and empirical practice of working scientists. Part 1 focuses on the theory of popular politics constructed within the context of analytical Marxism. In part 2, Little asks if rational choice theory provides an adequate basis for explaining patterns of social, political, and economic behavior in traditional China. The essays in part 3 reveal the philosophy of social science as understood by philosophers. Here, Little probes issues of objectivity, empiricism, and generalizations, and makes the case that social generalizations are not akin to laws of nature.
Microfoundations, Method, and Causation
"The convergence of inexactness and intelligibility in social phenomena makes social and historical inquiry fascinating. The social world is not chaotic and social processes are not unrelated strings of events. We can explain social patterns in ways that illuminate social outcomes. At the same time, the social world does not constitute a closed, determined system of variables and outcomes, in the same way that quantum chemistry systemizes the properties of all physical structures. Instead, the social sciences are a tangle of cross-cutting, overlapping sets of theories, hypotheses, causal models, idealized facts, interpretive principles, and bodies of empirical findings that may illuminate but do not reduce.In Microfoundations, Method, and Causation, Daniel Little combines a purely philosophical perspective on social science, with the theoretical and empirical practice of working scientists. Part 1 focuses on the theory of popular politics constructed within the context of analytical Marxism. In part 2, Little asks if rational choice theory provides an adequate basis for explaining patterns of social, political, and economic behavior in traditional China. The essays in part 3 reveal the philosophy of social science as understood by philosophers. Here, Little probes issues of objectivity, empiricism, and generalizations, and makes the case that social generalizations are not akin to laws of nature.Little's approach to social science research effectively points out the limits inherent in social theories, as well as questions and answers that may be posed to the social world. In a clear, compelling, and honest fashion, he urges both the social scientist and the philosopher who studies the social sciences, to make the most of empirical methods of research to develop hypotheses about the social world. As such, this is a must read for sociologists, social theorists, and philosophers."--Provided by publisher.
The Microfoundations Delusion
Author: John Edward King
language: en
Publisher: Edward Elgar Publishing
Release Date: 2012-01-01
ïThis excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.Í _ Michael Howard, University of Waterloo, Canada ïA generation ago Dudley Dillard wrote a famous article on the ñbarter illusion in classical and neoclassical economicsî. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.Í _ John Smithin, York University, Canada In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have ïrigorous microfoundationsÍ. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct ïspecial scienceÍ, cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.