In this paper, I shall defend two main claims. First, Friedman’s famous paper “On the methodology of positive economics” (“F53”) cannot be properly understood without taking into account the influence of three authors who are neither cited nor mentioned in the paper: Max Weber, Frank Knight, and Karl Popper. I shall trace both their substantive influence on F53 and the historical route by which this influence took place. Once one has understood these ingredients, especially Weber’s ideal types, many of F53’s (...) astonishing sentences like “the more significant the theory, the more unrealistic the assumptions”, make good sense. Second, I shall claim that the much-discussed question whether Friedman’s essay espouses an instrumentalist or a realist position, is the wrong question to be asked. I shall illustrate that by a comparison with examples from physics in which also unrealistic assumptions are made. Also there, the question whether these assumptions are indicators of instrumentalism or realism is not appropriate. Cleared from these misunderstandings, F53 presents itself as an interesting and reasonable but much less controversial contribution to the methodology of economics. (shrink)

This article highlights a use of analogies in science that so far has received relatively little systematic discussion: providing reasons for pursuing a model or theory. Using the development of the liquid drop model as a test case, I critically assess two extant pursuit worthiness accounts: that analogies justify pursuit by supporting plausibility arguments and that analogies can serve as a guide to potential theoretical unification. Neither of these fit the liquid drop model case. Instead, I develop an alternative account, (...) based on the idea that analogies facilitate the transfer of a well-understood modelling strategy to a new domain. 1Introduction2Case Study: The Development of the Liquid Drop Model3Plausibility Accounts 3.1Bartha on plausibility and analogical inference3.2Plausibility and the drop analogy4Analogies as a Guide to Unification5Generative Accounts 5.1Analogy-based modelling strategies5.2Did analogies play a merely generative role?6A New Pursuit Worthiness Account of Analogies 6.1Transferring understanding-with through analogies6.2Understanding-with and the liquid drop model7Conclusion. (shrink)

Analogies often provide reasons for pursuing hypotheses or models. This is illustrated with a case study on the liquid drop model of the atomic nucleus. I criticise accounts in which analogies provide reasons for pursuit through epistemic support, proposing instead that analogies increase the value of learning the truth. I consider two accounts of this type: first, that analogies indicate potentials for theoretical unification; second, that analogies facilitate the transfer of already well-understood modelling frameworks to new domains. While the first (...) is plausible for some cases, only the second can account for the liquid drop case study. (shrink)