David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Economic Methodology 2 (1):123-134 (1995)
This paper deals with the way metaphors carried over from physical or biological systems condition the analysis of economic systems. The metaphors drawn from Newtonian mechanics, or from conservative fields of force, by neoclassical economists are discussed. Alternative metaphors which involve non-homeostasis and time irreversible processes are then outlined. Particular attention is paid to thermodynamics, evolutionary biology, and non-conservative or hysteretic force fields as sources of such metaphors. It is argued that these metaphors provide illumination to aspects of economic systems which are not consistent with the homeostatic, time reversible metaphors conventionally employed in economics.
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References found in this work BETA
Ian Hacking (1983). Representing and Intervening: Introductory Topics in the Philosophy of Natural Science. Cambridge University Press.
I. Prigogine (1984). Order Out of Chaos: Man's New Dialogue with Nature. Distributed by Random House.
Stuart A. Kauffman (1993). The Origins of Order Self-Organization and Selection in Evolution. Oxford University Press.
Cliff Hooker (1980). From Being to Becoming Time and Complexity in the Physical Sciences. Monograph Collection (Matt - Pseudo).
Richard Feynman (1967). The Character of Physical Law. The MIT Press.
Citations of this work BETA
Ana Maria Bianchi & Cleofas Salviano (1999). Raúl Prebisch and the Beginnings of the Latin American School of Economics: A Rhetorical Perspective. Journal of Economic Methodology 6 (3):423-438.
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