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Philosophy of Economics

Edited by Anna Alexandrova (Cambridge University)
Assistant editor: Jack Wright (Cambridge University)
About this topic
Summary Philosophy of economics is a study of abstract issues that arise in connection to the discipline of economics. It has three core areas: foundations, methodology and ethics. Foundations of economics encompasses conceptual and metaphysical study such as nature of rationality and social ontology, seeking to clarify what we study when we study economics (preferences, individuals, institutions, societies etc?) and their properties and relations to each other. Methodology of economics is concerned with the nature of knowledge that can be attained about the economy and its sources.  The ethical side of philosophy of economics is a study of normative issues such as justice, efficiency, equality, welfare, paternalism, coercion and such, that arise at the intersection of political philosophy and welfare economics.
Key works Daniel Hausman is responsible for much contemporary philosophy of economics. Hausman 2008 is a comprehensive encyclopedia article. Hausman 2008 is an anthology of classic essays all the way back to J.S Mill and Marx. Hausman 2006 is a seminal study of normative assumptions in economics and their critical study. Hausman 1992 kickstarted and still informs many discussions in methodology of economics, for example Reiss 2009 which presents an updated agenda. Mäki 2001 is a collection on the ontology of economics.
Introductions There is now a textbook in philosophy of economics Reiss 2013. Other good introductions to philosophy of economics are just introductions to philosophy of social science. I favor Rosenberg 1995, Little 1991, and Elster 2007.
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Subcategories:See also:History/traditions: Philosophy of Economics
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  1. Pierluigi Barrotta (2009). The Pursuit of Unhappiness. The Elusive Psychology of Well-Being , Daniel M. Haybron. Oxford University Press, 2008, XV + 357 Pages. [REVIEW] Economics and Philosophy 25 (3):378-384.
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  2. Yota Batsaki (2009). A Heap of Worthless Fragments : The Nineteenth-Century Literary Revaluation of the Classical Statue. In Jack Amariglio, Joseph W. Childers & Stephen Cullenberg (eds.), Sublime Economy: On the Intersection of Art and Economics. Routledge.
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  3. Eddie K. Baumann (1998). A Comparison of Economic Problem Solving in Experts and Naïve Thinkers. Journal of Social Studies Research 56 (2).
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  4. K. Binmore (2002). Using Game Theory in Social Science A Review of Kaushik Basu's Prelude to Political Economy. Journal of Economic Methodology 9 (3):379-383.
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  5. Ken Binmore (2009). Review Symposium. Journal of Economic Methodology 16 (2):207-219.
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  6. Ken Binmore (2005). What Price the Moral High Ground? Ethical Dilemmas in Competitive Environments, by Robert H. Frank. Princeton and Oxford: Princeton University Press, 2004, XII + 203 Pages. [REVIEW] Economics and Philosophy 21 (2):309-311.
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  7. Ken Binmore (1991). Morality Within the Limits of Reason., Russell Hardin. Chicago: University of Chicago Press, 1988, Xx + 219 Pages. [REVIEW] Economics and Philosophy 7 (01):112-119.
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  8. J. Birner (1995). Interpretation and its Consequences: A Review of Don Lavoie's (Editor) Expectations and the Meaning of Institutions-Essays by Ludwig Lachmann and Economics and Hermeneutics. [REVIEW] Journal of Economic Methodology 2:304-311.
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  9. J. Birner (1994). Review of E. Roy Weintraub's Stabilizing Dynamics: Constructing Economic Knowledge. [REVIEW] Economics and Philosophy 10:349-349.
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  10. Jack Birner (1994). Stabilizing Dynamics; Constructing Economic Knowledge, E. Roy Weintraub. Cambridge: Cambridge University Press, 1991, X + 177 Pages. [REVIEW] Economics and Philosophy 10 (02):349-.
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  11. Jack Birner, Peter Boettke, Karen Vaughn & Ulrich Witt (1998). INEM Sessions at the New York ASSA Meetings 3-5 January 1999. Journal of Economic Methodology 5 (2):332.
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  12. Charles Blackorby, Walter Bossert & David Donaldson (1997). Critical-Level Utilitarianism and the Population-Ethics Dilemma. Economics and Philosophy 13 (2):197-.
  13. Mark Blaug (1987). Methodology with a Smallm. Critical Review 1 (2):1-5.
    THE RHETORIC OF ECONOMICS by Donald N. McCloskey Madison, Wis.: University of Wisconsin Press, 1985; 229 pp., $21.50.
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  14. Niels Bohr (1999). Symposium on the Coase Theorem Legal Fiction: The Place of the Coase Theorem in Law And. Economics and Philosophy 15:209-233.
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  15. L. A. Boland (1989). Book Reviews : Philosophy of Economics: A Critique of Demarcation. By Raphael Sassower. Lanham: University Press of America, 1985. Pp. Xx + 217. $11.75 (Paper. [REVIEW] Philosophy of the Social Sciences 19 (2):231-232.
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  16. L. A. Boland (1985). Book Reviews : Philosophy in Economics. Edited by JOSEPH C. PITT. Dordrecht, Boston and London: D. Reidel Publishing Co., 1981, Pp. 203 + Index. $14.95 (Paper. [REVIEW] Philosophy of the Social Sciences 15 (1):108-109.
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  17. L. A. Boland (1976). Book Reviews : An Economic Querist. By G. L. S. SHACKLE. Cambridge: Cambridge University Press, 1973. Pp. 135. [REVIEW] Philosophy of the Social Sciences 6 (1):93-94.
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  18. Lawrence Boland (forthcoming). Kuhn Vs. Popper by Way of Lakatos and the Cold War. Journal of Economic Methodology.
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  19. Lawrence Boland (2010). Joel Anderson is a Research Lecturer in the Philosophy Department of Utrecht University in the Netherlands. He Specializes in Moral Psychology and Social Theory, Especially Issues of Autonomy, Agency, Mutual Recognition and Normativity. He Co-Edited (with John Christman) Autonomy and the Challenges to Liberalism (Cambridge University Press. [REVIEW] Economics and Philosophy 26:407-409.
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  20. Lawrence Boland (2010). The Methodology of Positive Economics: Reflections on the Milton Friedman Legacy, Uskali Mäki, Editor. Cambridge University Press, 2009. Xvii + 363 Pages. [REVIEW] Economics and Philosophy 26 (03):376-382.
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  21. Lawrence A. Boland (2003). Dealing with Popper in Economic Methodology. Philosophy of the Social Sciences 33 (4):479-498.
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  22. Lawrence A. Boland (1983). On the Best Strategy for Doing Philosophy of Economics. [REVIEW] British Journal for the Philosophy of Science 34 (4):387-392.
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  23. G. Bonanno (1994). On Bonanno Logic of Rational Play-Reply. Economics and Philosophy 10 (1):115-117.
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  24. G. Bonanno, C. List, B. Tungodden & P. Vallentyne (2008). Special Issue on “Neuroeconomics”. Economics and Philosophy 24.
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  25. Giacomo Bonanno (1995). Rationality and Coordination, Bicchieri Cristina. Cambridge University Press, 1994, Xiii + 270 Pages. [REVIEW] Economics and Philosophy 11 (02):359-.
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  26. Giacomo Bonanno (1994). Reply to Vilks. Economics and Philosophy 10 (01):115-.
    In his note Arnis Vilks (1994) raises two criticisms concerning my paper "The Logic of Rational Play in Extensive Games" (Bonanno, 1991). The author gives two examples: one to show that my logic "is inconsistent..
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  27. James Bonar (1967/1966). Philosophy and Political Economy in Some of Their Historical Relations. New York, Humanities P..
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  28. Luigi Bonatti (1984). Uncertainty: Studies in Philosophy, Economics, and Socio-Political Theory. B.R. Grüner.
    lNTRODUCTlON ln itself the world is neither governed by a principle of order, irremediably abandoned to disorder, structured with iron determinism, ...
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  29. David Boonin (1988). Competition and Capitalism. Critical Review 2 (2-3):183-188.
    NO CONTEST: THE CASE AGAINST COMPETITION by Alfie Kohn Boston: Houghton Miffin, 1986. 257 pp., $16.95.
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  30. William James Booth (1993). Households: On the Moral Architecture of the Economy. Cornell University Press.
    INTRODUCTION A story has been passed down to us from some two millennia ago of a conversation between a wealthy Athenian estate owner, ...
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  31. Wj Booth (1991). Economies of Time-Rejoinder. Political Theory 19 (4):656-661.
    A Critical Response to William James Booth's article in Economics of Time.
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  32. Walter Bossert & Luigino Bruni (2009). Gaia Bellone is a Graduate Student in the PhD Program in the Department of Statistics, Carnegie Mellon University. She Received Her Bachelor's Degree in Economics From Luigi Bocconi University, Italy, and Her Master's Degree in Statistics From Carnegie Mellon University. Economics and Philosophy 25:243-246.
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  33. Kenneth E. Boulding (1989). The Economy of the Earth: Philosophy, Law, and the Environment, Mark Sagoff. Cambridge: Cambridge University Press, 1988, X + 271 Pages. [REVIEW] Economics and Philosophy 5 (01):97-.
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  34. Bryan L. Boulier & Robert S. Goldfarb (1991). Pisces Economicus: The Fish as Economic Man. Economics and Philosophy 7 (01):83-86.
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  35. M. Boumans (2002). Pragmatic View on Empirical Modeling A Review of Clive WJ Granger's Empirical Modeling in Economics, Specification and Evaluation. Journal of Economic Methodology 9 (1):103-106.
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  36. S. Bowles & H. Gintis (1993). A Political and Economic Case for Economic Democracy. Economics and Philosophy 9 (1):75-100.
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  37. Samuel Bowles & Herbert Gintis (1993). A Political and Economic Case for the Democratic Enterprise. Economics and Philosophy 9 (01):75-.
  38. Michael Bradie (2000). Individualism and the Unity of Science, Harold Kincaid. Rowman & Littlefield, 1997, VII + 165 Pages. [REVIEW] Economics and Philosophy 16 (1):147-174.
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  39. Richard Bradley (2000). Models and Reality in Economics, Steven Rappaport. Edward Elgar, 1998, VI + 233 Pages. [REVIEW] Economics and Philosophy 16 (1):147-174.
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  40. Richard Bradley (2000). Review. Steven Rappaport 'Models and Reality in Economics' [Book Review]. Economics and Philosophy 16 (1):159-163.
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  41. Matthew Braham (2006). Measuring Specific Freedom. Economics and Philosophy 22 (3):317-333.
    This paper is about the measurement of specific freedoms freedom functionbeing free to performconditional probability of success.negative freedom is membership of powerful coalitions.”.
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  42. G. Brennan (1998). Review of Daniel M. Hausman and Michael S. McPhersons' Economic Analysis and Moral Philosophy. [REVIEW] Economics and Philosophy 14:339-341.
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  43. H. Brighouse (1994). Review of Norman Frohlich and Joe A. Oppenheimer's Choosing Justice: An Experimental Approach to Ethical Theory. [REVIEW] Economics and Philosophy 10:127-127.
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  44. James W. Brock (1993). Junking Corporate America. Critical Review 7 (2-3):225-236.
    A firestorm of deals and <span class='Hi'>debt</span> consumed corporate America during the 1980s. Some contend that this deal mania, and the junk <span class='Hi'>debt</span> that fueled it, enhanced the nation's economic performance and bolstered its global competitiveness. Viewed in the context of its aftermath, however, the evidence suggests that a decade of junk?<span class='Hi'>debt</span> deals subverted economic performance, weakened the country's economy and rendered it dangerously vulnerable to recession, and inflicted a massive opportunity cost vis?à?vis America's foreign rivals.
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  45. Daniel W. Bromley (2009). First Page Preview. Journal of Economic Methodology 16 (1).
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  46. Richard Bronk (2014). Reflexivity Unpacked: Performativity, Uncertainty and Analytical Monocultures. Journal of Economic Methodology 20 (4):343-349.
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  47. J. Broome (1991). Utility-Ideas and Terminology-Reply. Economics and Philosophy 7 (2):285-287.
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  48. J. Broome & P. Mongin (1996). Jean E. Hampton-1954-1996-Obituary. Economics and Philosophy 12 (2):252-252.
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  49. John Broome (1992). Review of Hard Choices. [REVIEW] Economics and Philosophy 8:169-176.
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  50. John Broome (1991). Utility. Economics and Philosophy 7 (1):1-12.
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