Erasmus Journal for Philosophy and Economics

Articles

Vol. 10, No. 2, Autumn

Inclusive Ethics: Extending Beneficence and Egalitarian Justice
Review of Ingmar Persson's Inclusive Ethics: Extending Beneficence and Egalitarian Justice. Oxford: Oxford University Press, 2017, 288 pp.Inclusive Ethics develops a moral theory governing any conduct that affects individuals that are, or could be, conscious....
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A Coasian Solution to Problems of Initial Acquisitions
I. IntroductionSuppose that you are the first person to come upon a vast area of land that no one has claimed yet, such as an undiscovered island or planet. You announce your ownership of the land in its entirety. If you were then to sell the land, whole...
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Reflections on the 2017 Nobel Memorial Prize Awarded to Richard Thaler
Richard Thaler received this year's Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. In my view, this is an outstanding decision that puts the spotlight on an interesting and controversial field in economics, with many fascinating...
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Was Ludwig Von Mises a Conventionalist? A New Analysis of the Epistemology of the Austrian School of Economics
Review of Alexander Linsbichler's Was Ludwig von Mises a Conventionalist? A New Analysis of the Epistemology of the Austrian School of Economics. London: Palgrave Macmillan, 2017, ix + 151 pp.Alexander Linsbichler's Was Ludwig von Mises a Conventionalist?...
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Taxing the Rich: A History of Fiscal Fairness in the United States and Europe
Review of Kenneth Scheve and David Stasavage's Taxing the Rich: a History of Fiscal Fairness in the United States and Europe. Princeton: Princeton University Press, 2016, 288 pp.Like analogue radio, progressive taxation is a creature of the twentieth...
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The Fictitious Liberal Divide: Economic Rights Are Not Basic
I.Are Economic Rights Basic According to Classical Liberals?It is common to assume that the core disagreement between classical and high liberals concerns the harmonization of economic rights with a theory of justice. On the one hand, high liberals,...
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The Viennese Students of Civilization: The Meaning and Context of Austrian Economics Reconsidered
Review of Erwin Dekker's The Viennese Students of Civilization: The Meaning and Context of Austrian Economics Reconsidered. New York: Cambridge University Press, 2016, 216 pp.Erwin Dekker's book, which grew out of his dissertation at Erasmus University...
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Enacting Dismal Science: New Perspectives on the Performativity of Economics
Review of Enacting Dismal Science: New Perspectives on the Performativity of Economics, edited by Ivan Boldyrev and Ekaterina Svetlova. London: Palgrave Macmillan, 2016, vii + 206 pp.Economics, as the volume editors Ivan Boldyrev and Ekaterina Svetlova...
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What Attracted Keynes to Malthus's High Price of Provisions?
This paper reconstructs and extends one part of John Maynard Keynes's discussion in his biographical essay on Malthus (1972). It is widely known that Keynes praised Thomas Robert Malthus for helping to inspire his own theory of effective demand. Although...
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Vol. 10, No. 1, Spring

PHD THESIS SUMMARY: Polycentric Democracy: Using and Defusing Disagreements
One of the main debates in political philosophy throughout the past four decades has been whether modern societies, despite their profound and ubiquitous disagreements, can find forms of association or institutional settings that are superior to our...
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The Survival of Aristotelianism in Early English Mercantilism: An Illustration from the Debate between Malynes and Misselden
I.IntroductionOf the handbooks on the history of economic thought that do pay attention to the 'prehistory' of economics, most assume a strict fault line between scholastic economics and mercantilism. Late medieval and early-modern economic thought literally...
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PHD THESIS SUMMARY: What Is Required for (R)evolutions? the Case of Economics
This thesis consists of four parts, all of which concern one topic: (r)evolutions in economics. Part I, entitled Problem context, involves an analytical and critical description of the dominant discourse in economics, juxtaposed with an overview of the...
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PHD THESIS SUMMARY: Economics as a “Tooled” Discipline: Lawrence R. Klein and the Making of Macroeconometric Modeling, 1939-1959
PHD THESIS SUMMARY: Economics as a “tooled” discipline: Lawrence R. Klein and the making of macroeconometric modeling, 1939-1959Large-scale macroeconometric models have played a paramount role in the transformation of US-American macroeconomics in the...
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Norms in the Wild: How to Diagnose, Measure, and Change Social Norms
Review of Cristina Bicchieri's Norms in the wild: how to diagnose, measure, and change social norms. Oxford: Oxford University Press, 2017, xviii + 239 pp.In her 2012 Descartes Lectures at Tilburg University, Cristina Bicchieri addressed three questions...
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PHD THESIS SUMMARY: From the Lucasian Revolution to DSGE Models: An Account of Recent Developments in Macroeconomic Modelling 1
PHD THESIS SUMMARY: From the Lucasian revolution to DSGE models: an account of recent developments in macroeconomic modelling1In the last four decades, macroeconomic modelling practices underwent a deep transformation. My dissertation provides a history...
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Mainstream Economics and the Austrian School: Toward Reunification
Among mainstream economists, there is a basic orthodoxy about the philosophical foundations of economic theory. They agree that idealizations about people's psychological preferences serve in some way to ground economic theory, that economic theory can...
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The Counter-Revolution of Criminological Science: A Study on the Abuse of Reasoned Punishment
Discipline in general, like its most rational offspring, bureaucracy, is impersonal. Unfailingly neutral, it places itself at the disposal of every power that claims its service and knows how to promote it.-Weber (1946, 254)I. INTRODUCTIONIn recent years,...
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Philosophy without Borders, Naturally: An Interview with Harold Kincaid
HAROLD Kincaid (Indiana, United States, 1952) is a philosopher of the social sciences in the School of Economics at the University of Cape Town (UCT). Before South Africa, he was in the departments of Philosophy, Sociology, and Epidemiology at the University...
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PHD THESIS SUMMARY: Rational Choice Theory: Its Merits and Limits in Explaining and Predicting Cultural Behaviour
PHD THESIS SUMMARY: Rational choice theory: its merits and limits in explaining and predicting cultural behaviourThe questions this dissertation addresses are: (1) What principles must govern the decision-making process in order for persons to be called...
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A History of Macroeconomics from Keynes to Lucas and Beyond
Review of Michel de Vroey's A history of macroeconomics from Keynes to Lucas and beyond. New York: Cambridge University Press, 2016, 429 pp.Michel De Vroey's A history of macroeconomics from Keynes to Lucas and beyond is an important contribution to...
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Ethics in the Real World: 82 Brief Essays on Things That Matter
Review of Peter Singer's Ethics in the real world: 82 brief essays on things that matter. Princeton: Princeton University Press, 2016, 355 pp.Ethics in the real world is a collection of short essays, columns, and opinion pieces written by philosopher...
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Behind the Model: A Constructive Critique of Economic Modelling
Review of Peter Spiegler's Behind the model: a constructive critique of economic modelling. Cambridge: Cambridge University Press, 2015, 201pp.Peter Spiegler examines the current state of theoretical and empirical modelling in economics. According to...
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Vol. 9, No. 2, Autumn

The Open Society as a Rule-Based Order
1.My doctoral supervisor, John W. Chapman, spent his career analyzing why Western Europe developed an open, prosperous, dynamic society. In one way or another every seminar was about that, with our readings ranging over cultural history, economic history,...
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Either / Or-Why Ideas, Science, Imperialism, and Institutions All Matter in the "Rise of the West"
Deirdre McCloskey has now completed the third (and final?) volume of her trilogy on how the West (from 1800 to 1950) and most of the rest of the world (from 1900 to 2015) grew rich. The message of all three volumes is spelled out in the subtitle: "How...
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A Place at the Table: Low Wage Workers and the Bourgeois Deal
Though it comes with its own burdens, a philosopher's task is lighter than that the economic historian sets before herself. Philosophers, after all, seek out the argument for 'markets' (plucking it out of any which source we please, shining it, propping...
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Dialectical Libertarianism: The Unintended Consequences of Both Ethics and Incentives Underlie Mutual Prosperity
In Bourgeois equality, Deidre Nansen McCloskey argues, as advertised in the book's subtitle, that "Ideas, not capital or institutions, enriched the world" (2016). This ambitious historical project takes its position in opposition to the political left...
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The Bourgeoisie and the Scholar
Deirdre McCloskey is a true sui generis in our intellectual universe. In the latest (and last, by her own promise) installment of her Bourgeoisie trilogy, she had brought together many of the ideas proposed in the two earlier volumes, as well as in a...
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Not Saving or Psychology, or Science, but a New Liberalism: A Reply to Gaus, Goldstone, Baker, Amadae, and Mokyr
Well, a philosopher, a sociologist, another philosopher, a political theorist, and an economic historian. This is going to be interesting!Gerald Gaus' over-generous praise startles me-I didn't set out to write a "great work", and am reluctant to think...
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Axiomatic and Ecological Rationality: Choosing Costs and Benefits
1 INTRODUCTIONThis paper argues that the best approach to normative rationality for the specific purpose of fostering improvements is a strategic mixture of the two strongest contenders. The methods of each exploit particular kinds of information and...
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Hayek's "Scientism" Essay: The Social Aspects of Objectivity and the Mind
I. INTRODUCTIONF. A. Hayek's (2010a, 2010b, 2010c) three-part "Scientism and the study of society" was part of a wider (aborted) project on what he called The abuse and decline of reason (Caldwell 2010, 3). There are so many interpretations of its arguments...
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The Mismeasure of Capital: A Response to McCloskey
I. INTRODUCTIONI have known Deirdre McCloskey for a long time. We used to go drinking at the annual History of Economics Society conferences (beer not wine) in the 1980s. After publication of The rhetoric of economics (McCloskey 1985), I wrote a rather...
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Reflections on the 2016 Nobel Memorial Prize for Contract Theory (Oliver Hart and Bengt Holmström)
INTRODUCTIONAs researchers who focus on the economic theory of the firm we were delighted to see the 2016 Nobel Prize in economic sciences go to Oliver Hart and Bengt Holmström, two of the foremost economists in the areas of contracting, firm boundaries,...
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Justice, Markets, and the Family: An Interview with Serena Olsaretti
SERENA Olsaretti (Naples, Italy, 1971) is a political philosopher at Pompeu Fabra University (UPF), where she holds a research professorship with the Catalan Institute of Research and Advanced Studies (ICREA). Before moving to Barcelona, she was University...
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Happiness Explained
Review of Paul Anand's Happiness explained. Oxford: Oxford University Press, 2016, 143 pp.Among the growing band of economists who challenge the hitherto dominant role of GDP as the driver of public policy and advocate more direct measures of happiness...
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Markets without Limits: Moral Virtues and Commercial Interests
Review of Jason Brennan and Peter M. Jaworski's Markets without limits: moral virtues and commercial interests. New York: Routledge, 2016, 239 pp.Recently, ethical analysis of markets has taken a new direction. The current focus can be called the 'commodification...
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Distributive Justice: Getting What We Deserve from Our Country
Review of Fred Feldman's Distributive justice: getting what we deserve from our country. Oxford: Oxford University Press, 2016, 288 pp.One of the holy grails of political philosophy is creating a fully functioning theory of distributive justice based...
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Keynes, Keynesian Economics and the Political Economy of Power of the Postwar World
The economic origins and sociopolitical impacts of what became known as 'Keynesian Economics' have not received substantial attention from economists, political scientists, and philosophers about its mode of governance. This thesis explores the rise...
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The Language of Max Weber. A Sociological Enquiry (in German: Die Sprache Max Webers. eine Soziologische Untersuchung)
When Max Weber entered the field of historical and economical research, he might have felt like entering a battlefield. There had been a lot of fighting about the methodology of economics in nineteenth century Germany and Austria, both between historical...
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An Incrementalist Approach to Political Philosophy. the Case of Heterogeneous Rationality Assumptions in Theories of Distributive Justice
The main goal of the thesis is to provide a framework for the pursuit of normative inquiries in the field of political philosophy, which bridges ideal and non-ideal theory by accommodating both types of approaches and by providing a blueprint for the...
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Vol. 9, No. 1, Spring

Science, Politics, and the Economy: The Unintended Consequences of a Diabolic Paradox (Editorial)
The year 2014 marked the 300th anniversary of the publication of Bernard Mandeville's Fable of the bees, or private vices, publick benefits. To celebrate this occasion, as well as its own centennial, the Erasmus University Rotterdam organized an international...
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Treating of Bodies Medical and Political: Dr. Mandeville's Materialism
Experience, though noon auctoriteeWere in this world, is right ynogh for me.Geoffrey Chaucer, The wife of Bath of Bath's prologue and taleBernard Mandeville is correctly known for helping to ground modern ideas of political economy in a naturalistic...
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The Dutch Background of Bernard Mandeville's Thought: Escaping the Procrustean Bed of Neo-Augustinianism
I. INTRODUCTIONThe grimness of the debates following the publication of the Fable of the bees in 1723 is a testament to Bernard Mandeville's provocative originality. However, as Horne described it, Mandeville was "not simply an eccentric who surfaced...
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Bernard Mandeville on Hypochondria and Self-Liking
I. INTRODUCTIONThe central theme in Mandeville's works is the acknowledgment of the crucial role that self-liking plays in human matters. Self-liking is a natural passion "by which every Individual values itself above its real Worth" (Mandeville 1924b,...
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Mandeville on Charity Schools: Happiness, Social Order and the Psychology of Poverty
INTRODUCTIONIt used to be widely believed that Bernard Mandeville was not concerned about the poor.1 In truth, there is nothing to suggest that he was not a compassionate man either in his private life or in his profession as a medical doctor. He worked...
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Bernard Mandeville and the Doctrine of Laissez-Faire
I. INTRODUCTIONIn the introduction to his edition of Mandeville's Fable of the bees, F.B. Kaye considered Mandeville's influence in three fields: literature, ethics and economics. Kaye concluded that it was on the course of economic theory that Mandeville's...
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Bees on Paper: The British Press Reads the Fable
Bernard Mandeville submitted his last publication, A letter to Dion, to the printer James Roberts in 1732. In this seventy-page essay, the Dutch author responded to George Berkeley, who had attacked the Fable in his Alciphron or the minute philosopher...
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Neural Networks, Real Patterns, and the Mathematics of Constrained Optimization: An Interview with Don Ross
DON ROSS (Winnipeg, 1962) is professor of economics at the University of Cape Town (South Africa) and is program director of methodology at the Center for Economic Analysis of Risk (CEAR) at the J. Mack Robinson School of Business at Georgia State University...
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Ethics in Economics: An Introduction to Moral Frameworks
Review of Jonathan Wight's Ethics in economics: an introduction to moral frameworks. Stanford: Stanford University Press, 2015, 275 pp.For many years now those of us looking for a text to use in courses on ethics and economics and have had to rely primarily...
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Catching Capital: The Ethics of Tax Competition
Review of Peter Dietsch's Catching capital: the ethics of tax competition. New York: Oxford University Press, 2015, 280 pp.This excellent book explores normative issues related to tax competition among states and proposes solutions to core problems identified....
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Politics in Commercial Society: Jean-Jacques Rousseau and Adam Smith
Review of Istvan Hont's Politics in commercial society: Jean- Jacques Rousseau and Adam Smith, eds. Béla Kapossy and Michael Sonenscher. Cambridge (MA): Harvard University Press, 2015, 138 pp.In the past decades scholars have come to revise the view...
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Essays on the Nature and State of Modern Economics
Review of Tony Lawson's Essays on the nature and state of modern economics. London: Routledge, 2015, 262 pp.The book by Tony Lawson entitled Essays on the nature and state of modern economics comes at a particularly fitting time in the history of the...
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Valuing Health. Well-Being, Freedom, and Suffering
Review of Daniel M. Hausman's Valuing health. Well-being, freedom, and suffering. Oxford: Oxford University Press, 2015, 267 pp.INTRODUCTIONAt least since the 1980s, rising health care expenditures have become a central public policy issue in industrialized...
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Vol. 8, No. 2, Autumn

Collective Intentionality and the State Theory of Money
THE IMPORTANCE OF THE ONTOLOGY OF MONEYThe ontology of money has been a fertile field for the application and the appraisal of philosophical theories of social existence; many social philosophers including Karl Marx, Georg Simmel, and Max Weber have...
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Methodology in Capital in the Twenty-First Century: A "New-Historical" Approach to Political Economy
(ProQuest: ... denotes formulae omitted.)I. INTRODUCTIONThomas Piketty's (2014) Capital in the twenty-first century (from here on Capital) has been praised as "one of the watershed books in economic thinking" (Milanovic 2014, 519) and derided as a work...
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A Welfarist Critique of Social Choice Theory: Interpersonal Comparisons in the Theory of Voting
(ProQuest: ... denotes formulae omitted.)Insofar as social choice theory deals with voting, it aims to provide answers to two main questions. First, how well does voting perform in collecting information on individual preferences? Second, what is the...
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The Happiness Industry: How the Government and Big Business Sold Us Well-Being
Review of William Davies's The happiness industry: how the government and big business sold us well-being. London: Verso, 2015. 314 pp.Neoliberalism has been broadly accepted as a fairly recent economic and political project. For example, David Harvey,...
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Economics Rules: The Rights and Wrongs of the Dismal Science
Review of Dani Rodrik's Economics rules: the rights and wrongs of the dismal science. New York: W. W. Norton & Company, 2015, 272 pp.In this review, I focus on issues that will interest philosophers of economics (for a more general review and a chapter...
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Science outside the Laboratory: Measurement in Field Science and Economics
Review of Marcel Boumans's Science outside the laboratory: measurement in field science and economics. New York: Oxford University Press, 2015, 198 pp.Science outside the laboratory brings the reader along an exploration into the epistemology of scientific...
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Model Building in Economics: Its Purposes and Limitations
Review of Lawrence A. Boland's Model building in economics: its purposes and limitations. Cambridge: Cambridge University Press, 2014, 298 pp.The purposes and limitations of all types of models used in economics, past and beyond. This is the rather ambitious...
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PHD THESIS SUMMARY: Reconciling Normative and Behavioural Economics
Economic analysis is traditionally separated into two different branches: positive economics seeks to explain and describe how economic agents behave, while normative economics aims at evaluating economic outcomes, policies, and institutions. Both approaches...
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PHD THESIS SUMMARY: The World as a Garden: A Philosophical Analysis of Natural Capital in Economics
This dissertation undertakes a philosophical analysis of "natural capital" and argues that this concept has prompted economists to view nature in a radically novel manner. Formerly, economists referred to nature and natural products as a collection of...
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Vol. 8, No. 1, Spring

Equality of Resources, Risk, and the Ideal Market
When Ronald Dworkin introduced his theory of equality of resources back in 1981, his first claim was that "an equal division of resources presupposes an economic market of some form, mainly as an analytical device but also, to a certain extent, as an...
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Resolving the Small Improvement Argument: A Defense of the Axiom of Completeness
This paper defends an assumption in utility theory, specifically the assumption that agents either hold a strict preference over two options, or that they are indifferent between them. I will call this sort of comparison 'trimodal'. This assumption of...
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Lesser Degrees of Explanation: Further Implications of F. A. Hayek's Methodology of Sciences of Complex Phenomena
From the early-1950s on, F. A. Hayek was concerned, among his several other interests, with the development of a methodology of sciences that study systems of complex phenomena.1 According to Hayek, complex phenomena consist of a large number of elements...
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Orthodox and Heterodox Economics in Recent Economic Methodology
Myself when young did have ambition to contribute to the growth of social science. At the end, I am more interested in having less nonsense posing as knowledge (Frank Knight, 1956).At the time I was finishing graduate school, there was no real "field"...
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Learning from the Right Neighbour: An Interview with Jack Vromen
JACK J. VROMEN (Heerlen, 1958) is professor of theoretical philosophy, with a special emphasis on the philosophy of economics, dean of the philosophy faculty at the Erasmus University Rotterdam, and director (and co-founder) of the Erasmus Institute...
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Hegel, Institutions and Economics: Performing the Social
Review of Carsten Herrmann-Pillath and Ivan Boldyrev's Hegel, institutions and economics: performing the social. London: Routledge, 2014, 264 pp.The most fun an academic can have, at least on the job, comes from encountering a package of ideas one never...
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The Economics of Economists: Institutional Setting, Individual Incentives, and Future Prospects
Review of The economics of economists: institutional setting, individual incentives, and future prospects, edited by Alessandro Lanteri, and Jack Vromen. Cambridge: Cambridge University Press, 2014, 374 pp.It is distressing these days to be a book reviewer....
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Finding Equilibrium: Arrow, Debreu, McKenzie and the Problem of Scientific Credit
Review of Till Düppe and E. Roy Weintraub's Finding equilibrium: Arrow, Debreu, McKenzie and the problem of scientific credit. Princeton: Princeton University Press, 2014, 304 pp.In an all-night session in early 1697 Isaac Newton solved two problems...
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Morality, Competition, and the Firm: The Market Failures Approach to Business Ethics
Review of Joseph Heath's Morality, competition, and the firm: the market failures approach to business ethics. Oxford: Oxford University Press, 2014, 424 pp.Anyone who has taught or taken a business ethics course will be familiar with the tired debate...
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PHD THESIS SUMMARY: Using Case Studies in the Social Sciences: Methods, Inferences, Purposes
Despite fads and fashions in the academic culture, case-based reasoning has proved to be a persistent form of analysis in the social sciences, in the humanities, and even in moral thinking. Broadly understood, casebased reasoning locates the ultimate...
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PHD THESIS SUMMARY: The Role of Negotiations in Achieving Pareto Optimality in Multi-Dimensional Cooperation Games: Implications for the Ethical Conduct of Business
Numerous excellent macroeconomic studies have been done concerning the recent and, to some extent, still ongoing financial crisis and the painstaking recovery which has followed it. Not a small number of experts have expressed their puzzlement that such...
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PHD THESIS SUMMARY: The Performativity of Economics: A Conventionalist Approach
The performativity of economics has been the focal point of attention for the last decade in economic methodology and economic sociology. Initiated by Michel Callon, the performativity thesis, the idea that economics, more than merely describing an external...
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PHD THESIS SUMMARY: The Ontology of Money: Institutions, Power and Collective Intentionality
The aim of the thesis is to revisit elementary questions about the nature and the existence of money and to propose an alternative framework to the textbook description of money according to three functions, i.e., as a means of exchange, unit of account...
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Vol. 7, No. 2, Autumn

Philosophy of Economics
Review of Don Ross's Philosophy of economics. Palgrave Macmillan, 2014, 341 pp.Don Ross begins his recent book by explaining why he regards analytical philosophy of science as "a barren enterprise" (p. 1). Analytical philosophy of science (derived from...
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Inventing the Market: Smith, Hegel, and Political Theory
Review of Lisa Herzog's Inventing the market: Smith, Hegel, and political theory. Oxford University Press, 2013, 208 pp.This short but insightful book is based on the author's Oxford DPhil thesis. As its title indicates the book analyses and compares...
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Philosophy of the Economy: An Aristotelian approach/A Re-Assessment of Aristotle's Economic Thought
Review of Ricardo F. Crespo's Philosophy of the economy: an Aristotelian approach, Springer, 2013, 154 pp.; and of A re-assessment of Aristotle's economic thought, Routledge, 2014, 145 pp.Ricardo Crespo's two short books are welcomed contributions to...
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Adam Smith's Pluralism: Rationality, Education, and the Moral Sentiments
Review of Jack Russell Weinstein's Adam Smith's pluralism: rationality, education, and the moral sentiments. New Haven & London: Yale University Press, 2013, 360 pp.Jack Russell Weinstein's new book sets itself two major tasks: to argue that Adam...
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L'institutionnalisme Historique et la Relation Entre Théorie et Histoire En éConomie [Historical Institutionalism and the Relation between Theory and History in Economics]
Review of Cyril Hédoin's L'institutionnalisme historique et la relation entre théorie et histoire en économie [Historical institutionalism and the relation between theory and history in economics]. Paris: Classiques Garnier, 2013, 435 pp.This book originates...
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PHD THESIS SUMMARY: The J-PAL's Experimental Approach in Development Economics: An Epistemological Turn?
The rise of experimental economics has changed the research agenda of economic science. Today economics is undergoing an empirical turn, which entails an epistemological change in economics. The fact that contemporary economists consider empirical tools...
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PHD THESIS SUMMARY: Governing by Carrot and Stick: A Genealogy of the Incentive
Managers, politicians, and scientists frequently use the term 'incentive' in their explanations of human action. At the same time, individuals in the public and private sectors are now governed with the help of incentives: a bonus is an incentive for...
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Ricardo's Discursive Demarcations: A Foucauldian Study of the Formation of the Economy as an Object of Knowledge
The idea that all 'economic phenomena' are part of a distinct domain governed by its own laws and regularities only began to take shape in the second half of the 18th century. Before that time, there were numerous treatises devoted to phenomena we now...
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Measured, Unmeasured, Mismeasured, and Unjustified Pessimism: A Review Essay of Thomas Piketty's Capital in the Twenty-First Century
Measured, unmeasured, mismeasured, and unjustified pessimism: a review essay of Thomas Piketty's Capital in the twenty-first centuryKeywords: Piketty, capitalism, inequalityJEL Classification: B40, B50, I32, N30, P10Thomas Piketty has written a big book,...
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The Vienna Circles: Cultivating Economic Knowledge outside Academia
Fin-de-siècle Vienna has been widely studied for the creative outburst in both the arts and the sciences (see, e.g., Johnston 1972; Janik and Toulmin 1973; Schorske 1980). And understandably so, just think about the abundance of contributions across...
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Challenging the Majority Rule in Matters of Truth
Surprises can be useful in epistemology. Epistemology is most helpful when it leads to normative recommendations that are surprising in that they are counterintuitive or in contradiction with established practice (Miriam Solomon 2006, 30).Seeking and...
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PHD THESIS SUMMARY: Learning from Ignorance: Agnotology's Challenge to Philosophy of Science
The recent commercialization and privatization of scientific research has reconfigured the organization of science worldwide, fostering new scientific practices and new political tools to manage scientific research. Focusing on the mechanisms of ignorance...
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Rational Choice as a Toolbox for the Economist: An Interview with Itzhak Gilboa
Itzhak Gilboa (Tel Aviv, 1963) is currently professor of economics at the Eitan Berglas School of Economics at Tel-Aviv University and professor of economics and decision sciences at the Hautes Études Commerciales (HEC) in Paris. He earned undergraduate...
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Vol. 7, No. 1, Spring

Foundations of Economic Evolution: A Treatise on the Natural Philosophy of Economics
Review of Carsten Herrmann-Pillath's Foundations of economic evolution: a treatise on the natural philosophy of economics. Edward Elgar, 2013, 704 pp.There is no settled view among economists about the place of their discipline in the general architecture...
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Economic Justice and Liberty: The Social Philosophy in John Stuart Mill's Utilitarianism
Review of Huei-chun Su's Economic justice and liberty: the social philosophy in John Stuart Mill's utilitarianism. Routledge, 2013, 214 pp.For those who are inclined to discount John Stuart Mill as an erratic and eclectic thinker, Economic justice and...
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Hayek: A Collaborative Biography: Part 1 Influences, from Mises to Bartley
Review of Robert Leeson's Hayek: a collaborative biography: part 1 Influences, from Mises to Bartley. New York: Palgrave Macmillan, 2013, 241 pp.Given the vast literature both on Hayek and his work, one may wonder what contribution can be made by yet...
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Architectures of Economic Subjectivity: The Philosophical Foundations of the Subject in the History of Economic Thought
Review of Sonya Marie Scott's Architectures of economic subjectivity: the philosophical foundations of the subject in the history of economic thought. London and New York: Routledge, 2013, 302 pp.This book is an historical study of economic science that...
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PHD THESIS SUMMARY: The Viennese Students of Civilization: Humility, Culture and Economics in Interwar Vienna and Beyond
This dissertation argues that the group of interwar scholars who are usually known under the banner Austrian Economists-including Carl Menger, Friedrich von Wieser, Joseph Schumpeter, Ludwig von Mises, and Friedrich Hayek-are better understood as the...
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Conceptualising the Labour-Money Connection: A Critical Re-Examination of Benetti and Cartelier's Marchands, Salariat et Capitalistes
Marchands, salariat et capitalistes (1980) may be seen as a French attempt to develop an alternative to the dominant neoclassical paradigm. In contrast to the real approaches to the economy which characterise the mainstream approach, Carlo Benetti and...
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In Pursuit of the Rarest of Birds: An Interview with Gilbert Faccarello
GILBERT JEAN FACCARELLO (Paris, 1950) is professor of economics at Université Panthéon-Assas, Paris, and a member of the Triangle research centre (École Normale Supérieure de Lyon and CNRS). He is presently chair of the ESHET Council (European Society...
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From Desire to Subjective Value: What Neuroeconomics Reveals about Naturalism
[I]t is not profitable for us at present to do moral philosophy; that should be laid aside at any rate until we have an adequate philosophy of psychology, in which we are conspicuously lacking (Anscombe 1958, 1).A great deal of the recent work in cognitive...
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PHD THESIS SUMMARY: Phenomenology and Economics
The question of relevance of phenomenological method for economics has been revived in recent decades especially in the context of the Austrian school and also in more general considerations of economics (see Düppe 2011). My thesis concentrates mainly...
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A Category-Mistake in the Classical Labour Theory of Value
(ProQuest: ... denotes formulae omitted.)The natural prices of reproducible commodities vary with the distribution of income whereas their real costs of production, measured in labour time, do not. In consequence, labour costs cannot fully explain the...
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What Money Can't Buy: The Moral Limits of Markets
Review of Michael Sandel's What money can't buy: the moral limits of markets. New York: Farrar, Straus and Giroux, 2012, 256 pp.Michael Sandel's latest book is not a scholarly work but is clearly intended as a work of public philosophy-a contribution...
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