How Economists Model the World Into Numbers


Book Description

Economics is dominated by model building, therefore a comprehension of how such models work is vital to understanding the discipline. This book provides a critical analysis of the economist's favourite tool, and as such will be an enlightening read for some, and an intriguing one for others.




What is Theory?


Book Description

There is no consensus in the social and cultural sciences on what theory is, and that is as it should be. A consensus would be outright dangerous for the diversity of intellectual life. The perspectives represented in this volume show that theory can be understood as plot, hope, beholding, doxa, heritage, a stalemate, disappointment, personal matter, or family concept. But, even if theory can be defined in many ways, it cannot be defined in any one way. Beyond disciplinary and epistemological differences, theory has the steadfast characteristic of being what academics work with. More than an epistemological matter, the book's title question is an entry into the dynamics of academic practice. The book consists of a multidisciplinary collection of essays that are tied together by a common effort to tell what theory is. These essays are also paired as dialogues between senior and junior researchers from the same, or allied, disciplines to add a trans-generational dimension to the book's multidisciplinary approach. What Is Theory? has been designed for upper division and graduate students in the social sciences and the humanities, but it will also be of interest to anyone who has felt that the question of what theory is can be more easily asked than answered. Contents include: Why Ask What Theory Is? * The History of the Concept of Theory * History of Ideas at the End of Western Dominance * Looking at Theory in Theory in Science * Theory Has No Big Others in Science and Technology Studies * What Social Science Theory Is and What It Is Not * Theory as Hope * Theory Crisis and the Necessity of Theory - The Dilemmas of Sociology * Theory as Disappointment * Theory - A Personal Matter * Theory - A Professional Matter * Economic Theory - A Critical Realist Perspective * For Theoretical Pluralism in Economic Theory * What Is Theory in Political Science? * For a New Vocabulary of Theory in Political Science * Theorizing the Earth * Spatial Theory as an Interdisciplinary Praxis. *** "This highly original, lively and refreshing book is more than welcome: it is needed....the contributors' insights, passion and diversity fully restore the creative value of theorizing as a way to grasp, understand and more importantly shape the world." - Franck Cochoy, Professor of Sociology, U. of Toulouse




Economic Methodology


Book Description

Economic Methodology explores the status and character of economics as a social science and introduces students to philosophical issues underlying modern science. Approaching the subject as philosophy of science for economists, the authors use the historical developments in philosophy of science to frame this introduction to the field of economic methodology. By doing this they strengthen students' understanding of economics as a science to enhance their reasoning skills, introducing them to the wider philosophical issues surrounding our understanding of the area.




How Economists Model the World into Numbers


Book Description

Economics is dominated by model building, therefore a comprehension of how such models work is vital to understanding the discipline. This book provides a critical analysis of the economist's favourite tool, and as such will be an enlightening read for some, and an intriguing one for others.




McCloskey's Rhetoric


Book Description

This unique book examines the use of rhetoric in economics, focusing on the work of one of the discipline's most recognizable names; Deirdre McCloskey. It analyzes her major texts and evaluates their methodological and philosophical consequences.




Exploring the History of Statistical Inference in Economics


Book Description

Contributors to this special supplement explore the history of statistical inference, led by two motivations. One was the belief that John Maynard Keynes's distinction between the descriptive and the inductive function of statistical research provided a fruitful framework for understanding empirical research practices. The other was an aim to fill a gap in the history of economics by exploring an important part of the story left out of existing histories of empirical analysis in economics--namely "sinful" research practices that did not meet or point towards currently reigning standards of scientific research.




The Rhetoric of Economics


Book Description

A classic in its field, this pathbreaking book humanized the scientific rhetoric of economics to reveal its literary soul. Economics needs to admit that it, like other sciences, works with metaphors and stories. Its most mathematical and statistical moments are properly dominated by comparison and narration, that is to say, human persuasion. The book was McCloskey's opening move in the development of a "humanomics," and unification of the sciences and the humanities on the field of ordinary business life.




Mechanism and Causality in Biology and Economics


Book Description

This volume addresses fundamental issues in the philosophy of science in the context of two most intriguing fields: biology and economics. Written by authorities and experts in the philosophy of biology and economics, Mechanism and Causality in Biology and Economics provides a structured study of the concepts of mechanism and causality in these disciplines and draws careful juxtapositions between philosophical apparatus and scientific practice. By exploring the issues that are most salient to the contemporary philosophies of biology and economics and by presenting comparative analyses, the book serves as a platform not only for gaining mutual understanding between scientists and philosophers of the life sciences and those of the social sciences, but also for sharing interdisciplinary research that combines both philosophical concepts in both fields. The book begins by defining the concepts of mechanism and causality in biology and economics, respectively. The second and third parts investigate philosophical perspectives of various causal and mechanistic issues in scientific practice in the two fields. These two sections include chapters on causal issues in the theory of evolution; experiments and scientific discovery; representation of causal relations and mechanism by models in economics. The concluding section presents interdisciplinary studies of various topics concerning extrapolation of life sciences and social sciences, including chapters on the philosophical investigation of conjoining biological and economic analyses with, respectively, demography, medicine and sociology.




Scientific Understanding


Book Description

To most scientists, and to those interested in the sciences, understanding is the ultimate aim of scientific endeavor. In spite of this, understanding, and how it is achieved, has received little attention in recent philosophy of science. Scientific Understanding seeks to reverse this trend by providing original and in-depth accounts of the concept of understanding and its essential role in the scientific process. To this end, the chapters in this volume explore and develop three key topics: understanding and explanation, understanding and models, and understanding in scientific practice. Earlier philosophers, such as Carl Hempel, dismissed understanding as subjective and pragmatic. They believed that the essence of science was to be found in scientific theories and explanations. In Scientific Understanding, the contributors maintain that we must also consider the relation between explanations and the scientists who construct and use them. They focus on understanding as the cognitive state that is a goal of explanation and on the understanding of theories and models as a means to this end. The chapters in this book highlight the multifaceted nature of the process of scientific research. The contributors examine current uses of theory, models, simulations, and experiments to evaluate the degree to which these elements contribute to understanding. Their analyses pay due attention to the roles of intelligibility, tacit knowledge, and feelings of understanding. Furthermore, they investigate how understanding is obtained within diverse scientific disciplines and examine how the acquisition of understanding depends on specific contexts, the objects of study, and the stated aims of research.




Finding Equilibrium


Book Description

The remarkable story and personalities behind one of the most important theories in modern economics Finding Equilibrium explores the post–World War II transformation of economics by constructing a history of the proof of its central dogma—that a competitive market economy may possess a set of equilibrium prices. The model economy for which the theorem could be proved was mapped out in 1954 by Kenneth Arrow and Gerard Debreu collaboratively, and by Lionel McKenzie separately, and would become widely known as the "Arrow-Debreu Model." While Arrow and Debreu would later go on to win separate Nobel prizes in economics, McKenzie would never receive it. Till Düppe and E. Roy Weintraub explore the lives and work of these economists and the issues of scientific credit against the extraordinary backdrop of overlapping research communities and an economics discipline that was shifting dramatically to mathematical modes of expression. Based on recently opened archives, Finding Equilibrium shows the complex interplay between each man's personal life and work, and examines compelling ideas about scientific credit, publication, regard for different research institutions, and the awarding of Nobel prizes. Instead of asking whether recognition was rightly or wrongly given, and who were the heroes or villains, the book considers attitudes toward intellectual credit and strategies to gain it vis-à-vis the communities that grant it. Telling the story behind the proof of the central theorem in economics, Finding Equilibrium sheds light on the changing nature of the scientific community and the critical connections between the personal and public rewards of scientific work.