Reason and Reality in the Methodologies of Economics: An Introduction (Advances in Economic Methodology Series)
Glenn FoxISBN: 1840641398;
This highly original new book examines the scientific status of economics from the perspective of practicing economists. It studies how they evaluate their theories, the relationship between those theories and the phenomena they are intended to represent, and the philosophy, methodology and scientific credentials of economics. It examines the tension between economics as the logic of rational choice and as a predictive science, that is reason and reality respectively. It surveys the five most influential schools of thought in the methodology of economics, with special emphasis on theory appraisal: logical positivism, instrumentalism, a priorism, scientific realism and rhetorical analysis. Professor Fox assesses the extent to which economists have followed the precepts and consequences of their methodological position. He extends the discussion to consider the purpose of such economic inquiry, the scope of application and the appropriate structure of economic theory, as the...
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