I would just add: economics IS a science, like Darwinian biology, global brain theory, and other essentially complex sciences.
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From Chapter One, “Ontology”: Evolution is emerging as a central theoretical term bridging mainstream and heterodox economics. This points towards the naturalization of economics. However, in spite of the adherence to physicalist models in mainstream economics, it remains essentially a Geisteswissenschaft, because its underlying theory of mind is mentalistic, in the sense of Cartesian dualism. . . . → Read More: BOOK: The Foundations of Evolutionary Economics by Carsten Herrmann-Pillathn
Russ Roberts chats with Freeman Dyson.
Richard Ebeling and I have an extended discussion in the comments section of a post by Steve Horwitz, hashing out the commonalities shared by Friedrich Hayek and Ludwig Mises — and the differences which distinguish the work of each economist.
An excellent and appropriate choice. Congratulations to Bruce.
On the problem of theory selection in economics: I was initially attracted to Hayek not for his politics or his view on markets, but for what he had to say about the limitations of economics. Hayek developed his ideas about the dispersion of knowledge during the socialist calculation debate of the 1930s. His ideas led . . . → Read More: More Caldwell at the Soros Conference
From philosopher Alex Rosenberg and economists Bob Murphy and Mario Rizzo.
From F. A. Hayek’s “Principles or Expediency?”: What helpful insight science can provide for the guidance of policy consists in an understanding of the general nature of the spontaneous order, and not in any knowledge of the particulars of a concrete situation, which it does not and cannot possess. The true appreciation of what science . . . → Read More: hayek quotes: Sound Public Policy Depends On Sound Economic Science
Friedrich Hayek opposed the view of Lionel Robbins, Ludwig Mises and most textbooks which identifies “human action” or “human behavior” as the subject matter of economic science. Instead, Hayek shares the view of Carl Menger and Adam Smith which identifies undesigned social order as the object of explanation in social science: The discovery that there . . . → Read More: hayek quote: What Does Social Theory Study?
Here’s a great discussion on the economics of Friedrich Hayek (mp3) placed in the context of the history of economics and philosophy of science. The speaker is Bruce Caldwell, author of Hayek’s Challenge.
 Comments are closed  Alfred Marshall, Biography, Bruce Caldwell, Collected Works, Ernst Mach, Friedman, Philosophy of Science, Positivism, Spontaneous Order |
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