The Methodology of Economics :Or, How Economists Explain ( Cambridge Surveys of Economic Literature )

Publication subTitle :Or, How Economists Explain

Publication series :Cambridge Surveys of Economic Literature

Author: Mark Blaug  

Publisher: Cambridge University Press‎

Publication year: 1992

E-ISBN: 9780511881688

P-ISBN(Paperback): 9780521436786

Subject: F011 经济学的对象和方法

Keyword: 经济学Economics

Language: ENG

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The Methodology of Economics

Description

This book is an examination of the nature of economic explanation. The opening chapters introduce current thinking in the philosophy of science and review the literature on methodology. Professor Blaug then turns to the troublesome question of the logical status of welfare economics, giving the reader an understanding of the outstanding issues in the methodology of economics. This is followed by a series of case studies of leading economic controversies, which shows how controversies in economics may be illuminated by paying attention to questions of methodology. A final chapter draws the strands together and gives the author's view of what is wrong with modern economics. This book is a revised and updated edition of a classic work on the methodology of economics, in which Professor Blaug develops his discussion of the latest developments in macroeconomics, general equilibrium theory and international trade theory. A new section on the rationality postulate is also added.

Chapter

The hypothetico-deductive model

The symmetry thesis

Norms versus actual practice

Popper's falsificationism

A logical fallacy

The problem of induction

Immunizing stratagems

Statistical inference

Degrees of corroboration

A central conclusion

2 From Popper to the new heterodoxy

Kuhn's paradigms

Methodology versus history

Scientific research programs

Feyerabend's anarchism

Back to first principles

The case for methodological monism

Part II: The history of economic methodology

3 The verificationists, a largely nineteenth-century story

The prehistory of economic methodology

Mill's essay

Tendency laws

Mill's Logic

Mill's economics in practice

Cairnes's Logical Method

John Neville Keynes sums up

Robbins's Essay

Modern Austrians

4 The falsificationists, a wholly twentieth-century story

Ultraempiricism?

Apriorism once again

Operationalism

The irrelevance-of-assumptions thesis

The F-twist

The Darwinian survival mechanism

Naive versus sophisticated falsificationism

Back to essentialism

Institutionalism and pattern modeling

The current mainstream

5 The distinction between positive and normative economics

Hume's guillotine

Methodological judgments versus value judgments

Value-free social science?

A sample of the attack on Wertfreiheit

Solutions to the impossibility of Wertfreiheit

A brief historical sketch

Positive Paretian welfare economics

The invisible hand theorem

The dictatorship of Paretian welfare economics

The economist as a technocrat

Biases in assessing empirical evidence

Part III: A methodological appraisal of the neoclassical research program

6 The theory of consumer behavior

Introduction

Is the law of demand a law?

From indifference to revealed preference

Empirical work on demand

The importance of Giffen goods

Lancaster's theory of characteristics

7 The theory of the firm

The classic defense

Situational determinism

Competitive results despite oligopoly

8 General equilibrium theory

Testing GE theory

A theory or a framework?

Practical relevance

9 Marginal productivity theory

Production functions

The Hicksian theory of relative shares

Testing marginal productivity theory

10 Switching, reswitching, and all that

Measurement of capital

The existence of a demand function for capital

The empirical significance of reswitching

11 The Heckscher–Ohlin theory of international trade

The Heckscher–Ohlin theorem

Samuelson's factor-price-equalization theorem

The Leontief paradox

The Ohlin–Samuelson research program

Further tests

The Heckscher–Ohlin–Vanek theorem

12 Keynesians versus monetarists

Fruitless debate?

Friedman's successive versions of monetarism

Friedman's theory

Phase III of monetarism

Recovering the message of Keynes

The rise and fall of monetarism

New classical macroeconomics

Macroeconomics seen through Lakatosian spectacles

13 Human capital theory

Hard core versus protective belt

Methodological individualism

The scope of the program

The screening hypothesis

A final appraisal

Afterthoughts

14 The new economics of the family

Household production functions

Adhockery

Some results

Verificationism again

In retrospect

15 The rationality postulate

The meaning of rationality

Rationality as sacrosanct

Criticisms of rationality

Part IV: What have we now learned about economics?

16 Conclusions

The crisis of modern economics

Measurement without theory

Falsificationism once again

Applied econometrics

The best way forward

Glossary

Suggestions for further reading

Bibliography

Name index

Subject index

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