Critical Economic Methodology

Book Cover --
Half-Title --
Title --
Copyright --
Contents --
Preface --
Prologue --
METHODOLOGY\'S DEMAND AND SUPPLY --
OUTLINE OF THE BOOK --
Part I Friedman\'s methodology essay --
1 Economic methodology prior to 1979 --
THE SAGA OF MY 1979 JEL PAPER --
NOTES --
2 Criticizing the critiques of Friedman\'s 1953 essay --
THE USEFULNESS OF LOGIC --
Modus ponens: logic\'s only useful property --
Beyond modus ponens --
Objectives of an argument: necessity vs sufficiency --
\'INSTRUMENTALISM\' AND THE RELATIONSHIP BETWEEN LOGIC, TRUTH AND THEORIES --
The problem of induction --
\'Inductivism\' --
The \'conventionalist\' alternative to inductivism --
Instrumentalism and the usefulness of logic --
A READER\'S GUIDE TO FRIEDMAN\'S ESSAY --
An overview --
\'Positive vs normative economics\': the problem of induction in instrumentalist terms --
\'Positive economics\': conventionalist criteria used with an instrumentalist purpose --
\'Realism of assumptions\' vs the convenience of instrumentalist methodology --
The \'positive aspects of assumptions\' are positive aspects of instrumentalist methodology --
\'Economic issues\' or some examples of instrumentalist successes --
THE CRITICS --
Testability vs refutability: Koopmans --
Necessity of verifying assumptions: Rotwein --
Testability as refutability: Bear and Orr and Melitz --
Errors of omission: De Alessi --
The \'F-Twist\': Samuelson --
ON CRITICIZING INSTRUMENTALISM --
NOTES --
3 Criticizing satisficing, empiricism and formalism in methodology --
THE SOCIOLOGY OF ECONOMICS VS DEFEATIST CONVENTIONALISM --
EVIDENCE OF THE HOSTILE ATMOSPHERE --
SATISFICING IN METHODOLOGY --
My critique of Simon\'s critique of Friedman\'s essay --
Satisficing and the acceptance of unsuccessful methodological critiques --
FRIEDMAN\'S METHODOLOGY VS CONVENTIONAL EMPIRICISM --
Instrumentalism and the \'realism\' of assumptions. Conventionalism and the \'basis for empirical science\' --
Probabilism and degrees of \'confidence\' --
Friedman\'s instrumentalism through conventionalists\' eyes --
\'SOUND METHODOLOGY\' VS \'LOGICALLY SOUND\' ARGUMENT --
POPPER VS CONVENTIONALIST-POPPER --
DO INSTITUTIONALIST ECONOMISTS REALLY BELIEVE IN FORMALISM? --
The evidence --
The summation --
NOTES --
4 On the methodology of the history of contemporary economic thought --
FRIEDMAN\'S ALLEGED INCONSISTENCIES IN CORRESPONDENCE --
LIMITS TO THE HISTORY OF CONTEMPORARY THOUGHT --
Part II Methodological criticism and neoclassical economics --
5 Tautology vs testability in economic methodology --
6 Criticizing the neoclassical maximization hypothesis is futile --
TYPES OF CRITICISM AND THE MAXIMIZATION HYPOTHESIS --
THE LOGICAL BASIS FOR CRITICISM --
The possibilities critique: can the necessary conditions be fulfilled? --
The empirical critiques: is the sufficient premise true? --
THE IMPORTANCE OF DISTINGUISHING BETWEEN TAUTOLOGIES AND METAPHYSICS --
Distinguishing between tautologies and metaphysics --
Metaphysics vs methodology --
NOTES --
7 Appraisal vs criticism in economics --
APPRAISAL AS CRITICISM --
THE POVERTY OF CONVENTIONALIST METHODOLOGY IN ECONOMICS --
NOTES --
Part III Criticizing the methods of economic methodology --
8 The theory and practice of economic methodology --
KNOWLEDGE AND TRUTH STATUS: HISTORICALLY SPEAKING --
Thinking and \'correct answers\' --
Knowledge, authority and method --
Galileo and the authorities --
The humanists\' challenge and their social contract --
The authority of justification --
The Scientific Method --
The success of the Scientific Method --
Knowledge versus psychologism --
The problematic \'no-win\' contract: the Social Contract of Justification --
The problem of the infinite regress --
Romanticism and neo-romanticism --
Anti-justificationism. EPISTEMOLOGY VS METHODOLOGY: THE THEORETICAL PERSPECTIVE --
Sensationalism, methodology and epistemology --
Inductivism --
Conventionalism --
Anti-sensationalism as a social theory of knowledge --
THE PRACTICE OF ECONOMIC METHODOLOGY --
Conventionalist methodology in economics --
The conventionalist\'s choice problem --
Criticizing conventionalist methodology in economics --
Conventionalism and the sociology of economics --
Textbooks --
Professional meetings --
Departments and curricula --
The methodology of mathematical economics --
NOTES --
9 Criticizing economic positivism --
POSITIVE ECONOMICS VS WHAT? --
POSITIVISM AS RHETORIC --
WHAT EVERYONE SEEMS TO THINK \'POSITIVE\' IS --
Harvard positivism --
MIT positivism --
Chicago positivism --
LSE positivism --
MODERN ECONOMIC POSITIVISM IS PROFOUNDLY CONFUSED --
POSITIVE SCIENCE OR POSITIVE ENGINEERING? --
Explanatory science --
Social engineering --
POSITIVE EVIDENCE ABOUT POSITIVE ECONOMICS --
EXPLAINING THE USE OF THE STANDARD ARTICLE FORMAT --
POSITIVE SUCCESS OR POSITIVE FAILURE? --
NOTES --
10 Criticizing philosophy of economics --
NOTES --
11 Reflections on Blaug\'s Methodology of Economics --
SUGGESTIONS FOR ANOTHER REVISED EDITION --
WILL THE REAL POPPER STAND UP, PLEASE! --
ON THE UTILITY OF \'METHODOLOGICAL APPRAISAL\' --
SOME SUGGESTIONS --
NOTES --
12 Criticizing \'pluralism\' and other conventionalist ploys --
METHODOLOGICAL PLURALISM VS PROBLEM-DEPENDENT METHODOLOGY --
The logic of the situation --
Internal vs external criticism --
Against conventional criteria of truth --
Intolerant pluralism --
Against appraisal --
DIVERSITY AS NON-COMPREHENSION --
FROM IDIOSYNCRATIC TO MAEVSTREAM --
Wade Hands the reluctant Popperian --
Bruce Caldwell the eager Popperian --
Clarifying clarifications of Popper --
NOTES --
Part IV Criticizing the methods of economic analysis. 13 Individualism vs rationality in economics --
EXPLANATION AS APPLIED \'RATIONALITY\' --
INDIVIDUALISM AS A RESEARCH PROGRAM --
INDIVIDUALISM AND EIGHTEENTH-CENTURY MECHANICAL RATIONALISM --
UNITY THROUGH MECHANICS AND UNIVERSALITY THROUGH UNIQUENESS --
METHODOLOGICAL INDIVIDUALISM AND UNITY-VS-DIVERSITY --
NOTES --
14 Criticizing neoclassical equilibrium explanations --
THE ANALYTICAL PROBLEM OF PRICE ADJUSTMENT --
AD HOC CLOSURE OF THE ANALYTICAL EQUILIBRIUM MODEL --
TOWARD CLOSURE THROUGH AD HOC IGNORANCE --
How ignorant does the equilibrium firm have to be? --
Clower\'s ignorant monopolist --
EXOGENOUS CONVERGENCE WITH FORCED LEARNING --
Using the Rational Expectations Hypothesis --
Stacking the deck by assuming a stable market --
Social Darwinism applied --
ENDOGENOUS CONVERGENCE WITH AUTONOMOUS LEARNING --
ARE THE FOUNDATIONS COMPLETE? --
NOTES --
15 On criticizing neoclassical dynamics --
THE PROBLEM WITH TRADITIONAL EXPLANATIONS OF DYNAMIC PROCESSES --
Time and static models --
Time-based variables --
Time preferences or the economics of time --
Variable \'givens\' or lagged variables --
Flow variables --
TIME, LOGIC AND TRUE STATEMENTS --
TIME AND KNOWLEDGE: THE PROBLEM OF RATIONAL DYNAMICS --
A POSSIBLE SOLUTION TO THE PROBLEM OF RATIONAL DYNAMICS --
Theoretical knowledge --
The role of knowledge --
Responses to the need for change --
ALTERNATIVE SOLUTIONS TO THE PROBLEM OF RATIONAL DYNAMICS --
Georgescu-Roegen\'s solution --
Shackle\'s solution --
CONCLUDING LESSONS --
NOTES --
16 Criticizing the value-freeness of neoclassical economics --
PSYCHOLOGISM IN ECONOMICS: PARETO REVISITED --
PSYCHOLOGISM AND VALUES --
EXPLANATION AND PSYCHOLOGISM --
PSYCHOLOGISM AND GENERAL EQUILIBRIUM --
PSYCHOLOGISM AND VALUES AGAIN --
VALUES AS SOCIAL CONVENTIONS --
NOTES --
17 Criticizing the mathematics of neoclassical economics --
INTEGRATING THE INFINITESIMAL. PROOFS VS INFINITY-BASED ASSUMPTIONS --
THE AXIOM OF CHOICE --
FALSE HOPES OF SET THEORY --
UNREALISTIC DISCONTINUITIES --
INTEGERS VS THE EXPLANATION OF PRICES --
INFINITE SETS VS COMPLETE EXPLANATION --
INDUCTIVE KNOWLEDGE AND INFINITY-BASED ASSUMPTIONS --
LESSONS UNLEARNED --
NOTES --
18 Criticizing stylized facts and stylized methodology --
STYLIZED FACTS IN USE TODAY --
CRITICIZING STYLIZED METHODOLOGY --
NOTES --
Part V Popper and economic methodology --
19 Understanding the Popperian legacy in economics --
IS THERE A POPPERIAN LEGACY IN ECONOMICS? --
CRITICISM OF POPPER\'S VIEW OF SCIENCE --
UNDERSTANDING POPPER\'S VIEW OF SCIENCE --
FALSIFIABILITY IN ECONOMICS --
ATTEMPTS TO CREATE A POPPERIAN LEGACY --
THE RHETORIC OF POPPER\'S VIEW OF SCIENCE --
NOTES --
20 Scientific thinking without scientific method: two views of Popper --
THE POPULAR POPPER --
The practice of falsificationism --
Falsificationism and the history of science --
THE SOCRATIC POPPER --
Problem orientation and situational analysis --
Practicing the Socratic-Popper view --
Learning and Socratic dialectics --
Science in flux --
POPPER\'S SEMINAR AND THE HIJACKER --
POPPER\'S DISCIPLES VS POPPER AND THE HIJACKER --
THE POPULAR POPPER VS THE IMPORTANT POPPER --
Rationality and conventionalism --
Conventionalism and the stability of science --
Understanding the Socratic-Popper view --
THE FUTURE OF POPPERIAN ECONOMIC METHODOLOGY --
Explaining stability away --
The practicing Popperian methodologist --
NOTES --
Epilogue --
THE SOCIOLOGY OF JOURNAL REFEREES --
THE INTOLERANCE OF LIBERAL-MINDED PLURALISM --
THE HYPOCRISY OF SPECIALIZED JOURNALS --
THE HYPOCRISY IN MATTERS DEEMED TO BE IDEOLOGICAL --
THE FUTURE OF SUBSTANTIVE METHODOLOGY --
THE IMPERVIOUSNESS OF NEOCLASSICAL ECONOMICS --
NOTES --
Bibliography --
Name index --
Subject index.