Causality in Economics

Causality in Economics

Causality in Economics

Causality in Economics

Excerpt

When I was introducing my book about Economic History I could claim that, although I am no historian, I had read a good deal of history; in introducing this one I can make no corresponding claim. When I was an undergraduate student, I read the philosophical classics, such as they were given to us in Oxford in the twenties, but I have not kept up with my reading in that field. So the subject of this book is not one which I have kept in my cupboard, mulling over it for years (as Harrod said he had done with his Foundations of Inductive Logic); I came upon it quite recently, and rather suddenly. How that was I will try to explain.

I took part, in 1974, in a conference on the 'Micro‐ Foundations of Macro-economics', an International Economic Association conference at S'Agaro in Spain. The proceedings of that conference have subsequently been published. Though some excellent papers were given, reviewers have rightly perceived that the conference as a whole was a failure. We did not get to grips with the question we were supposed to be discussing. I could see that at the time, and as I came away I was asking myself why.

One of the reasons, I became convinced as I thought . . .

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