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  1. Preferences versus Opportunities: On the Conceptual Foundations of Normative Welfare Economics.Roberto Fumagalli - forthcoming - Economics and Philosophy:1-25.
    Normative welfare economics commonly assumes that individuals’ preferences can be reliably inferred from their choices and relies on preference satisfaction as the normative standard for welfare. In recent years, several authors have criticized welfare economists’ reliance on preference satisfaction as the normative standard for welfare and have advocated grounding normative welfare economics on opportunities rather than preferences. In this paper, I argue that although preference-based approaches to normative welfare economics face significant conceptual and practical challenges, opportunity-based approaches fail to provide (...)
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  2. Spontaneity as a Concept of General Significance: The Austrian School on Money and Economic Order.Scott Scheall - forthcoming - In Joseph Tinguely (ed.), Palgrave Handbook of Philosophy and Money. London: Palgrave.
    I examine the history of the concept of spontaneity in philosophy and the social sciences, particularly as it relates to monetary phenomena. I then offer an argument for the general significance of spontaneity. The essay concludes that scholars across the humanities and social sciences, whatever their (disciplinary, political, ideological, etc.) persuasion, would be well-served to further develop the theory of spontaneity and its social effects.
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  3. Complexity, Policymaking, and The Austrian Denial of Macroeconomics.Scott Scheall - forthcoming - In Bert Tieben, Victoria Chick & Jesper Jespersen (eds.), Routledge Handbook of Macroeconomic Methodology. Milton Park, Abingdon-on-Thames, Oxfordshire, England, UK: Routledge.
    Economists associated with the Austrian School of Economics are known to deny the value of macroeconomics as descended from the work of John Maynard Keynes and, especially, his followers. Yet, Austrian economists regularly engage in a related scientific activity: theorizing about the causes and consequences of economic fluctuations, i.e., the business cycle. What explains the Austrians’ willingness to engage in theorizing about the business cycle while denying the scientific import of macroeconomics? The present paper argues that the methodological precepts of (...)
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  4. Hermeneutics and phenomenology in the social sciences: lessons from the Austrian School of Economics case.Gabriel J. Zanotti, Agustina Borella & Nicolás Cachanosky - forthcoming - The Review of Austrian Economics.
    We study a case that applies hermeneutics to social sciences, in particular to the Austrian School of economics. We argue that an inaccurate treatment of hermeneutics contributed to an epistemological downgrade of the Austrian School in the economic scientific community. We discuss hoe this shortcoming can be fixed and how a proper hermeneutic application to the Austrian school explains why this school of thought is neither positivist nor postmodern.
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  5. Causal bias in measures of inequality of opportunity.Lennart B. Ackermans - 2022 - Synthese 200 (6):1-31.
    In recent decades, economists have developed methods for measuring the country-wide level of inequality of opportunity. The most popular method, called the ex-ante method, uses data on the distribution of outcomes stratified by groups of individuals with the same circumstances, in order to estimate the part of outcome inequality that is due to these circumstances. I argue that these methods are potentially biased, both upwards and downwards, and that the unknown size of this bias could be large. To argue that (...)
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  6. When the “realism of assumptions” mattered: Milton Friedman's critique of the Phillips curve.Marcos Picchio - 2022 - Studies in History and Philosophy of Science Part A 94 (C):8-16.
    In this paper I challenge the pernicious aspects of Milton Friedman's methodological outlook that continues to hold sway over mainstream neoclassical economists. I do this by showing how Friedman's own methodological dicta could have been used against him when he famously advanced the expectations critique of the Phillips curve at his presidential address to the American Economic Association. I use this case study to further suggest that psychological and neurophysiological data should not be deemed irrelevant to economic science.
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  7. David Ricardo: An Intellectual Biography.Sergio Cremaschi - 2021 - Abingdon: Routledge.
    "David Ricardo has been acclaimed - or vilified - for merits he would never have dreamt of, or sins for which he was entirely innocent. Entrenched mythology labels him as a utilitarian economist, an enemy of the working class, an impractical theorist, a scientist with 'no philosophy at all' and the author of a formalist methodological revolution. Exploring a middle ground between theory and biography, this book explores the formative intellectual encounters of a man who came to economic studies via (...)
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  8. On the possibility of an anti-paternalist behavioural welfare economics.Johanna Thoma - 2021 - Journal of Economic Methodology 28 (4):350-363.
    Behavioural economics has taught us that human agents don't always display consistent, context-independent and stable preferences in their choice behaviour. Can we nevertheless do welfare economics...
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  9. Value-free paradise is lost. Economists could learn from artists.Aleksander Ostapiuk - 2020 - Annales. Ethics in Economic Life 23 (4):7-33.
    Despite the conclusions from the contemporary philosophy of science, many economists cherish the ideal of positive science. Therefore, value-free economics is still the central paradigm in economics. The first aim of the paper is to investigate economics' axiomatic assumptions from an epistemological perspective. The critical analysis of the literature shows that the positive-normative dichotomy is exaggerated. Moreover, value-free economics is based on normative foundations that have a negative impact on individuals and society. The paper's second aim is to show that (...)
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  10. F. A. Hayek and the Epistemology of Politics: The Curious Task of Economics.Scott Scheall - 2020 - London: Routledge.
    "F. A. Hayek and the Epistemology of Politics is an exploration of an important problem that has largely been ignored: the problem of policymaker ignorance, and the limits of political epistemology. Scott Scheall explores Hayek's attitude to the philosophy of science and political philosophy, arguing that Hayek defended a philosophy of science that implied certain potential dangers of politicized science, and that his political philosophy established the potential dangers of misapplying scientific methods and results to matters of public policy. The (...)
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  11. When efficient market hypothesis meets Hayek on information: beyond a methodological reading.Nathanaël Colin-Jaeger & Thomas Delcey - 2019 - Journal of Economic Methodology 27 (2):97-116.
    Hayek and the Efficient Market Hypothesis are often seen as proposing a similar theory of prices. Hayek is seen as proposing to understand prices as information conveyer, incorporating inform...
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  12. Institutions and Evolution of Capitalism: Essays in Honour of Geoffrey M. Hodgson.David Gindis & Francesca Gagliardi (eds.) - 2019 - Cheltenham, UK: Edward Elgar.
    In just over 30 years, Geoff Hodgson has made substantial contributions to institutional economics, evolutionary economics, economic methodology, the history of economic thought and social theory. To mark his seminal work, this volume brings together original contributions by world-leading scholars in specific areas that have played a significant role in influencing his thinking or represent key debates to which he has contributed. Building on some of the most significant philosophical and methodological foundations underlying Hodgson's work, the volume is organised around (...)
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  13. On the Method Appropriate to Hayek Studies.Scott Scheall - 2019 - Œconomia ­­– History / Methodology / Philosophy 9 (1):29-35.
    The paper considers the significance of F. A. Hayek’s writings on the study of complex phenomena for the study of the very complex phenom- ena of Hayek’s own life and career. It is argued that the methodological principle which Hayek recommended for the investigation of complex phenomena is applicable to explanations of his own intellectual develop- ment. Indeed, it is argued that the extent to which a Hayek scholar re- spects this principle in their attempts to explain Hayek’s life and (...)
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  14. Research in the History of Economic Thought and Methodology.Luca Fiorito, Scott Scheall & Carlos Eduardo Suprinyak (eds.) - 2018 - Emerald Publishing.
  15. Modelos Económicos y Realidad.Agustina Borella (ed.) - 2017 - Buenos Aires, CABA, Argentina: Grupo Unión.
    La discusión acerca de los modelos en ciencias sociales, en particular en economía, es central a la disciplina, especialmente si se intenta mediante estas construcciones teóricas no sólo comprender sino también transformar el mundo social. ¿Qué son los modelos? ¿Para qué sirven? ¿Cómo tienen que ser? Estas preguntas se encuadran en la cuestión acerca de cómo tiene que ser la economía como ciencia en el marco de la epistemología de la economía. Popper, Lawson y Mӓki se plantean estas preguntas y (...)
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  16. Review of Alexander Linsbichler’s Was Ludwig von Mises a Conventionalist? A New Analysis of the Epistemology of the Austrian School of Economics. London: Palgrave Macmillan, 2017, ix + 151 pp. [REVIEW]Scott Scheall - 2017 - Erasmus Journal for Philosophy and Economics 10 (2):110-115.
  17. A Brief Note Concerning Hayek’s Non-Standard Conception of Knowledge.Scheall Scott - 2016 - Review of Austrian Economics 29 (2):205-210.
    Whatever F.A. Hayek meant by “knowledge” could not have been the justified true belief conception common in the Western intellectual tradition from at least the time of Plato onward. In this brief note, I aim to uncover and succinctly state Hayek’s unique definition of knowledge.
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  18. Hayek's Epistemic Theory of Industrial Fluctuations.Scott Scheall - 2015 - History of Economic Ideas (1):101-122.
    F.A. Hayek essentially quit economic theory and gave up the phenomena of industrial fluctuations as an explicit object of theoretical investigation following the publication of his last work in technical economics, 1941’s The Pure Theory of Capital. Nonetheless, several of Hayek’s more methodologically-oriented writings bear important implications for economic phenomena, especially those of industrial fluctuations. Decisions (usually, for Hayek, of a political nature) taken on the basis of a “pretence” of knowledge impede the operation of the price system’s belief-coordinating function (...)
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  19. Lesser degrees of explanation: further implications of F. A. Hayek's methodology of sciences of complex phenomena.Scott Scheall - 2015 - Erasmus Journal for Philosophy and Economics 8 (1):42.
    F.A. Hayek argued that the sciences of complex phenomena, including (perhaps especially) economics, are limited to incomplete “explanations of the principle” and “pattern predictions.” According to Hayek, these disciplines suffer from (what I call) a data problem, i.e., the hopelessness of populating theoretical models with data adequate to full explanations and precise predictions. In Hayek’s terms, explanations in these fields are always a matter of “degree.” However, Hayek’s methodology implies a distinct theory problem: theoretical models of complex phenomena may be (...)
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  20. Overcoming the Impasse in Modern Economics.David Gindis & Francesca Gagliardi - 2011 - Competition and Change 15 (4):336-342.
    In the wake of the global financial crisis of 2008, the greatest economic disaster since the Great Depression, the cover story of the July 18th 2009 issue of The Economist, entitled “What went wrong with economics,” opened with an unequivocally incriminating statement: “Of all the economic bubbles that have been pricked, few have burst more spectacularly than the reputation of economics itself.” In the months surrounding this indictment, many influential economists, including several Nobel laureates, were drawn to the same embarrassing (...)
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  21. Economic Methodology: A Bibliography with References to Works in the Philosophy of Science, 1860-1988 by Deborah A. Redman. [REVIEW]Bruce Caldwell - 1991 - Isis 82:422-422.
  22. Alfred Marshall, W. Stanley Jevons, and the Mathematization of Economics.Margaret Schabas - 1989 - Isis 80 (1):60-73.
  23. On the Progress of Quantification in Economics.Joseph Spengler - 1961 - Isis 52:258-276.
  24. The Vacuity of Ludwig von Mises’s Apriorism.Scott Scheall - manuscript
    Ludwig von Mises’s methodological apriorism is frequently attributed to the broader Austrian School of economics, of which, of course, Mises was a prominent member. However, there is considerable controversy concerning the meaning of Mises’s various attempts to justify his apriorism. There are prima facie inconsistencies within and across Mises’s methodological writings that engender massive confusion in the secondary literature. This confusion is aggravated by the fact that Mises’s apriorism cannot be straightforwardly interpreted as an artifact of his historical milieu. Indeed, (...)
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