Philosophy of Economics : An Anthology

Introduction 1(38) PART ONE. CLASSIC DISCUSSIONS 39(104) On the Definition and Method of Political Economy 41(18) John Stuart Mill Objectivity and Understanding in Economics 59(14) Max Weber The Nature and Significance of Economic Science 73(27) Lionel Robbins Economics and Human Action 100(8) Frank Knight Selected Texts on Economics, History, and Social Science 108(21) Karl Marx The Limitations of Marginal Utility 129(14) Thorstein Veblen PART TWO. POSITIVIST AND POPPERIAN VIEWS 143(62) The Methodology of Positive Economics 145(34) Milton Friedman Testability and Approximation 179(4) Herbert Simon Why Look Under the Hood? 183(5) Daniel M. Hausman Popper and Lakatos in Economic Methodology 188(17) D. Wade Hands PART THREE. IDEOLOGY AND NORMATIVE ECONOMICS 205(90) Science and Ideology 207(15) Joseph Schumpeter Welfare Propositions of Economics and Interpersonal Comparisons of Utility 222(4) Nicholas Kaldor The Philosophical Foundations of Mainstream Normative Economics 226(25) Daniel M. Hausman Michael S. McPherson Why Is Cost-Benefit Analysis So Controversial? 251(19) Robert H. Frank Capability and Well-Being 270(25) Amartya Sen PART FOUR. BRANCHES AND SCHOOLS OF ECONOMICS AND THEIR METHODOLOGICAL PROBLEMS 295(118) Econometrics as Observation: The Lucas Critique and the Nature of Econometric Inference 297(18) Kevin D. Hoover Does Macroeconomics Need Microfoundations? 315(19) Kevin D. Hoover Economics in the Laboratory 334(22) Vernon Smith Neuroeconomics: Using Neuroscience to Make Economic Predictions 356(22) Colin F. Camerer The Market as a Creative Process 378(21) James M. Buchanan Viktor J. Vanberg What Is the Essence of Institutional Economics? 399(14) Geoffrey M. Hodgson PART FIVE. NEW DIRECTIONS IN ECONOMIC METHODOLOGY 413(98) The Rhetoric of This Economics 415(16) Deirdre N. McCloskey Realism 431(8) Uskali Maki What Has Realism Got to Do with It? 439(15) Tony Lawson Feminism and Economics 454(22) Julie A. Nelson Credible Worlds: The Status of Theoretical Models in Economics 476(35) Robert Sugden Selected Bibliography of Books on Economic Methodology 511(10) Index 521