David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
Learn more about PhilPapers
Journal of the History of Economic Thought 31 (2):201-214 (2009)
In this paper I study how the theoretical categories of consumption theory were used by Milton Friedman in order to classify empirical data and obtain predictions. Friedman advocated a case by case definition of these categories that traded theoretical coherence for empirical content. I contend that this methodological strategy puts a clear incentive to contest any prediction contrary to our interest: it can always be argued that these predictions rest on a wrong classification of data. My conjecture is that this methodological strategy can contribute to explain why Friedman’s predictions never generated the consensus he expected among his peers.
|Keywords||Milton Friedman Prediction in economics|
|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
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Walter Block (2010). Milton Friedman on Intolerance: A Critique. Libertarian Papers 2.
Uskali Mäki (2003). 'The Methodology of Positive Economics' (1953) Does Not Give Usthemethodology of Positive Economics. Journal of Economic Methodology 10 (4):495-505.
Eric Schliesser (2005). Galilean Reflections on Milton Friedman’s "Methodology of Positive Economics," with Thoughts on Vernon Smith’s "Economics in the Laboratory". Philosophy of the Social Sciences 35 (1):50-74.
David Colander (1995). Is Milton Friedman an Artist or a Scientist? Journal of Economic Methodology 2 (1):105-122.
Lawrence A. Boland (2003). Methodological Criticismvs. Ideology and Hypocrisy. Journal of Economic Methodology 10 (4):521-526.
David Teira (2007). Milton Friedman, the Statistical Methodologist. History of Political Economy 39 (3):511-28.
Added to index2009-07-26
Total downloads83 ( #50,192 of 1,796,258 )
Recent downloads (6 months)10 ( #74,365 of 1,796,258 )
How can I increase my downloads?