David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Economic Methodology 19 (3):283-301 (2012)
Several commentators have argued that the economics-made-fun (?EMF?) genre contains very little actual economics. As such, it would seem that criticisms of EMF do not apply to economics more broadly. In this paper I take a contrary view, arguing that, in fact, at a deep conceptual level, the engine of EMF analyses is precisely the engine of mainstream economics. Specifically, I argue that both EMF and mainstream economics rest on a conceptual foundation known as the principle of the substitution of similars (?PSS?). Understanding how PSS leads EMF practitioners to make claims well beyond what is warranted by their analysis also offers insight into how PSS can put economists in danger of overestimating the power and scope of their analyses. I explore the consequences of such problems through examples of economic analysis of the US housing market in the lead-up to the recent financial crisis
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
David Colander, Michael Goldberg, Armin Haas, Katarina Juselius, Alan Kirman, Thomas Lux & Brigitte Sloth (2009). The Financial Crisis and the Systemic Failure of the Economics Profession. Critical Review 21 (2-3):249-267.
Pierre Maurice Marie Duhem (1954). The Aim and Structure of Physical Theory. Princeton, Princeton University Press.
Milton Friedman (1953). Essays in Positive Economics. University of Chicago Press.
I. Grattan-Guinness (1991). The Correspondence Between George Boole and Stanley Jevons, 1863–1864. History and Philosophy of Logic 12 (1):15-35.
Alasdair C. MacIntyre (1978). Against the Self-Images of the Age: Essays on Ideology and Philosophy. University of Notre Dame Press.
Citations of this work BETA
No citations found.
Similar books and articles
N. Emrah Aydinonat (2012). The Two Images of Economics: Why the Fun Disappears When Difficult Questions Are at Stake? Journal of Economic Methodology 19 (3):243-258.
Erwin Dekker & Paul Teule (2012). Economics Made Fun, and Made Fun Of: How 'Fun' Redefines the Domain and Identity of the Economics Profession. Journal of Economic Methodology 19 (4):427-437.
Diane Coyle (2012). The Paradox of Popularity in Economics. Journal of Economic Methodology 19 (3):187-192.
Thomas Mayer (1998). Boettke's Austrian Critique of Mainstream Economics: An Empiricist's Response. Critical Review 12 (1-2):151-171.
Jean-Baptiste Fleury (2012). The Evolving Notion of Relevance: An Historical Perspective to the 'Economics Made Fun' Movement. Journal of Economic Methodology 19 (3):303-316.
Jack Vromen (2012). Finding the Right Levers: The Serious Side of 'Economics Made Fun'. Journal of Economic Methodology 19 (3):199-217.
Uskali Mäki (2012). On the Philosophy of the New Kiosk Economics of Everything. Journal of Economic Methodology 19 (3):219-230.
Daniel Hausman (2001). Explanation and diagnosis in economics. Revue Internationale de Philosophie 3:311-326.
Tony Lawson (1997). Economics and Reality. Routledge.
Philippe Mongin (2006). Value Judgements and Value Neutrality in Economics. Economica 73 (290):257-286.
Huei-Chun Su (2012). Beyond the Positive–Normative Dichotomy: Some Remarks on Colander'sLost Art of Economics. Journal of Economic Methodology 19 (4):375-390.
Roger E. Backhouse (2012). Economics is a Serious and Difficult Subject. Journal of Economic Methodology 19 (3):231-241.
Robert Wutscher, Robert P. Murphy & Walter E. Block (2010). Mathematics in Economics: An Austrian Methodological Critique. Philosophical Investigations 33 (1):44-66.
Lawrence A. Boland (1998). Situational Analysis Beyond Neoclassical Economists. Philosophy of the Social Sciences 28 (4):515-521.
Added to index2012-10-03
Total downloads44 ( #60,395 of 1,700,312 )
Recent downloads (6 months)9 ( #69,042 of 1,700,312 )
How can I increase my downloads?