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Critical Economic Methodology
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The Foundations of
Economic Methodology Methodology for a New Microeconomics:
The Critical Foundations The Methodology of Economic Model
Building: Methodology after Samuelson The Principles of
Economics: Some Lies My Teachers Told Me
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Preface
British Library Cataloging in Publication Data
Library of Congress Cataloging in Publication Data
Methodology’s demand and supply
Outline of the book
Part I Friedman’s methodology essay
The saga of my 1979 paper
The usefulness of logic
‘Instrumentalism’ and the relationship between logic,
truth and theories
A reader’s guide to Friedman’s essay
The critics
On criticizing instrumentalism
The sociology of economics vs defeatist conventionalism
Evidence of the hostile atmosphere
Satisficing in methodology
Friedman’s methodology vs conventional empiricism
‘Sound methodology’ vs ‘logically sound’ argument
Popper vs conventionalist-Popper
Do institutionalist economists really believe in formalism?
Friedman’s alleged inconsistencies in correspondence
Limits to the history of contemporary thought
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Critical economic methodology
Contents
Part II Methodological criticism and neoclassical economics
Types of criticism and the maximization hypothesis
Part IV Criticizing the methods of economic analysis
Explanation as applied ‘rationality’
Individualism as a research program
The logical basis for criticism
Individualism and eighteenth-century mechanical
rationalism
The importance of distinguishing between tautologies and
metaphysics
Unity through mechanics and universality through
uniqueness
Appraisal as criticism
Methodological individualism and unity-vs-diversity
The poverty of conventionalist methodology in economics
The analytical problem of price adjustment
Part III Criticizing the methods of economic methodology
Knowledge and truth status: historically speaking
Epistemology vs methodology: the theoretical perspective
The practice of economic methodology
closure of the analytical equilibrium model
Toward closure through ignorance
Exogenous convergence with forced learning
Endogenous convergence with autonomous learning
Are the foundations complete?
Positive economics vs what?
The problem with traditional explanations of dynamic
processes
Time, logic and true statements
Time and knowledge: the Problem of Rational Dynamics
A possible solution to the Problem of Rational Dynamics
Alternative solutions to the Problem of Rational Dynamics
Concluding lessons
Positivism as rhetoric
What everyone seems to think ‘positive’ is
Modern economic positivism is profoundly confused
Positive science or positive engineering?
Positive evidence about positive economics
Explaining the use of the standard article format
Positive success or positive failure?
Psychologism in economics: Pareto revisited
Methodology of Economics
Psychologism and values
Suggestions for another revised edition
Explanation and psychologism
Will the real Popper stand up, please!
Psychologism and general equilibrium
On the utility of ‘methodological appraisal’
Psychologism and values again
Some suggestions
Values as social conventions
Methodological pluralism vs problem-dependent
methodology
Integrating the infinitesimal
Proofs vs infinity-based assumptions
Diversity as non-comprehension
The axiom of choice
From idiosyncratic to mainstream
False hopes of set theory
Unrealistic discontinuities
Integers vs the explanation of prices
Infinite sets vs complete explanation
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Critical economic methodology
Inductive knowledge and infinity-based assumptions
Lessonsunlearned
Stylized facts in use today
Criticizingstylizedmethodology
Part V Popper and economic methodology
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
ThepopularPopper
TheSocraticPopper
Popper’s seminar and the hijacker
Popper’s disciples vs Popper and the hijacker
The popular Popper vs the important Popper
The future of Popperian economic methodology
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
Bibliography
Name index
Subject index
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