Economists not only failed to anticipate the financial crisis; they may have contributed to it—with risk and derivatives models that, through spurious precision and untested theoretical assumptions, encouraged policy makers and market participants to see more stability and risk sharing than was actually present. Moreover, once the crisis occurred, it was met with incomprehension by most economists because of models that, on the one hand, downplay the possibility that economic actors may exhibit highly interactive behavior; and, on the other, assume (...) that any homogeneity will involve economic actors sharing the economist’s own putatively correct model of the economy, so that error can stem only from an exogenous shock. The financial crisis presents both an ethical and an intellectual challenge to economics, and an opportunity to reform its study by grounding it more solidly in reality. (shrink)

The goal of this article is to provide a slightly different spin on economists' use of the positive-normative distinction by providing some context for its use. The major difference is the following: philosophers and philosophically oriented economists, such as Hilary Putnam and John Davis, see the positive-normative distinction in economics as following from the logical positivist position, and they interpret comments made by economists as reflecting scientific methodological positions that have long since been repudiated by philosophers of science. This article (...) argues that economists' use of the positive-normative distinction developed from the Mill–Keynes methodological tradition, which did not hold logical positivist views. Instead, it had pragmatic purposes and was designed to encourage economists to be more modest in their claims for the implications of economic theory. We conclude by arguing that economist's current use of the positive-normative distinction is problematic, as Davis suggests, but th.. (shrink)

ABSTRACT Economists not only failed to anticipate the financial crisis; they may have contributed to it—with risk and derivatives models that, through spurious precision and untested theoretical assumptions, encouraged policy makers and market participants to see more stability and risk sharing than was actually present. Moreover, once the crisis occurred, it was met with incomprehension by most economists because of models that, on the one hand, downplay the possibility that economic actors may exhibit highly interactive behavior; and, on the other, (...) assume that any homogeneity will involve economic actors sharing the economist’s own putatively correct model of the economy, so that error can stem only from an exogenous shock. The financial crisis presents both an ethical and an intellectual challenge to economics, and an opportunity to reform its study by grounding it more solidly in reality. (shrink)

In the wake of the financial crisis of 2008, many economists have blamed economics for having failed to warn us. Paul Krugman, for example, in a well-known New York Times Magazine article, suggests that Classical economists were blinded by the beauty of mathematics, and that Keynesian economics is the path of the future. This paper argues that the evolution of economic thinking is much more nuanced than Krugman portrays it, and that instead of embracing what has become known as Keynesian (...) economics, macroeconomists should rather re-embrace the broader Classical economic tradition, of which Keynes was an important part. (shrink)

In the wake of the financial crisis of 2008, many economists have blamed economics for having failed to warn us. Paul Krugman, for example, in a well-known New York Times Magazine article, suggests that Classical economists were blinded by the beauty of mathematics, and that Keynesian economics is the path of the future. This paper argues that the evolution of economic thinking is much more nuanced than Krugman portrays it, and that instead of embracing what has become known as Keynesian (...) economics, macroeconomists should rather re-embrace the broader Classical economic tradition, of which Keynes was an important part. (shrink)

(2013). The systemic failure of economic methodologists. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 56-68. doi: 10.1080/1350178X.2013.774848.

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity (...) theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis. (shrink)

This book, first published in 1989, contains a spirited debate between eminent economists, journalists, and publishers about the spread of economic ideas. Using many of the same ideas as do the rhetorical and sociological philosophical schools, the contributors to this book discuss the spread of economic ideas in readily understandable English. The examination of the flow of ideas among economists and from economists to the public is followed by a discussion of the public policy use and abuse of these concepts. (...) A final section provides insights into the funding of ideas and the incentives to make economics more relevant. The dialogue among the book's contributors provides both the lay reader and the interested professional with fascinating insights into what happens behind the scenes in academia, publishing, and journalism. (shrink)

Bryan Caplan’s Myth of the Rational Voter overstates its case against democracy by not dealing with what might be called the historical/instrumentalist argument for democracy. The case for democracy that he attacks is primarily an academic exercise, which makes his argument against that case also an academic exercise. The supposed policy choice that Caplan presents between the market and democracy is not the correct choice, and the notion that economists should be given more voting weight in the democratic decision process (...) is normatively inappropriate. (shrink)

This paper considers the debate between economists and philosophers about the role of values in economic analysis by examining the recent debate between Hilary Putnam and Sir Partha Dasgupta. It argues that although there has been a failure to communicate there is much more agreement than it seems. If Dasgupta's work is seen as part of the methodological tradition expounded by John Stuart Mill and John Neville Keynes, economists and philosophers will have a better basis for understanding each other. Unlike (...) the logical-positivist tradition, which treats facts and values as two mutually exclusive concepts, the Mill- Keynes tradition recognizes that facts and values are intertwined. Unlike the Smithian tradition, which blends the study of facts and normative rules, it divides economics into a science that studies "what is" and an art which considers "what ought to be done". (shrink)

Part of the appeal of the biological approach to personal identity is that it does not have to countenance spatially coincident entities. But if the termination thesis is correct and the organism ceases to exist at death, then it appears that the corpse is a dead body that earlier was a living body and distinct from but spatially coincident with the organism. If the organism is identified with the body, then the unwelcome spatial coincidence could perhaps be avoided. It is (...) argued that such an identification would be a mistake. A living organism has a different part/whole relationship and persistence conditions than the alleged body. A case will be made that the concept ‘human body’ is a conceptual mess, vague in an unprincipled manner, and that an eliminativist stance towards dead bodies is the appropriate response. CiteULike Connotea Del.icio.us What's this? (shrink)

As a continuation of the work of the third author in [5], we make further observations on the features of Galois cohomology in the general model theoretic context. We make explicit the connection between forms of definable groups and first cohomology sets with coefficients in a suitable automorphism group. We then use a method of twisting cohomology (inspired by Serre’s algebraic twisting) to describe arbitrary fibres in cohomology sequences—yielding a useful “finiteness” result on cohomology sets. Applied to the special case (...) of differential fields and Kolchin’s constrained cohomology, we complete results from [3] by proving that the first constrained cohomology set of a differential algebraic group over a bounded, differentially large, field is countable. (shrink)

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain (...) in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. (shrink)

In this classic work David Bohm, writing clearly and without technical jargon, develops a theory of quantum physics which treats the totality of existence as an unbroken whole.

Oxford Philosophical Texts Series Editor: John Cottingham The Oxford Philosophical Texts series consists of authoritative teaching editions of canonical texts in the history of philosophy from the ancient world down to modern times. Each volume provides a clear, well laid out text together with a comprehensive introduction by a leading specialist, giving the student detailed critical guidance on the intellectual context of the work and the structure and philosophical importance of the main arguments. Endnotes are supplied which provide further commentary (...) on the arguments and explain unfamiliar references and terminology, and a full bibliography and index are also included. The series aims to build up a definitive corpus of key texts in the Western philosophical tradition, which will form a reliable and enduring resource for students and teachers alike. David Hume's aim in writing An Enquiry concerning Human Understanding was to introduce his philosophy to a European culture in which many educated people read original works of philosophy. He gives an elegant and accessible presentation of strikingly original and challenging views about the limited powers of human understanding, the attractions of scepticism, the compatibility of free will and determinism, and weaknesses in the foundations of religion. Hume's philosophy was highly controversial in the eighteenth century and remains so today. The text printed in this edition is that of the Clarendon critical edition of Hume's works. A substantial introduction by the editor explains the intellectual background to the work and surveys its main themes. The volume also includes detailed explanatory notes on the text, a glossary of terms, a full list of references, and a section of supplementary readings. (shrink)

Religion, science, and naturalism -- Perception and religious experience -- Panexperientialism, freedom, and the mind-body relation -- Naturalistic, dipolar theism -- Natural theology based on naturalistic theism -- Evolution, evil, and eschatology -- The two ultimates and the religions -- Religion, morality, and civilization -- Religious language and truth -- Religious knowledge and common sense.

In this innovative study, Lea David critically investigates the relationship between human rights and memory, suggesting that, instead of understanding human rights in a normative fashion, human rights should be treated as an ideology. Conceptualizing human rights as an ideology gives us useful theoretical and methodological tools to recognize the real impact human rights has on the ground. David traces the rise of the global phenomenon that is the human rights memorialization agenda, termed 'Moral Remembrance', and explores what (...) happens once this agenda becomes implemented. Based on evidence from the Western Balkans and Israel/Palestine, she argues that the human rights memorialization agenda does not lead to a better appreciation of human rights but, contrary to what would be expected, it merely serves to strengthen national sentiments, divisions and animosities along ethnic lines, and leads to the new forms of societal inequalities that are closely connected to different forms of corruptions. (shrink)

Liberal thinkers of the eighteenth and nineteenth centuries were alert to the political costs and human cruelties involved in European colonialism, but they also thought that European expansion held out progressive possibilities. In Progress, Pluralism, and Politics David Williams examines the colonial and anti-colonial arguments of Adam Smith, Immanuel Kant, Jeremy Bentham, and L.T. Hobhouse. Williams locates their ambivalent attitude towards European conquest and colonial rule in a set of tensions between the impact of colonialism on European states, the (...) possibilities of progress in distant and diverse places, and the relationship between universalism and cultural pluralism. In so doing he reveals some of the central ambiguities that characterize the ways that liberal thought has dealt with the reality of an illiberal world. Of particular importance are appeals to various forms of universal history, attempts to mediate between the claims of identity and the reality of difference, and the different ways of thinking about the achievement of liberal goods in other places. Pointing to key elements in still ongoing debates within liberal states about how they should relate to illiberal places, Progress, Pluralism, and Politics enriches the discussion on political thought and the relationship between liberalism and colonialism. (shrink)

Thus, Meyers provides a valuable account, not only of current medical attitudes, but also of relevant case and statute law as it stands at present.

David Charles presents a major new study of Aristotle's views on meaning, essence, necessity, and related topics. These interconnected views are central to Aristotle's metaphysics, philosophy of language, and philosophy of science, and are also highly relevant to current philosophical debates. Charles aims to reach a clear understanding of Aristotle's claims and arguments, to assess their truth, and to evaluate their importance to ancient and modern philosophy.

Confronted with the apparent explanatory gap between physical processes and consciousness, there are many possible reactions. Some deny that any explanatory gap exists at all. Some hold that there is an explanatory gap for now, but that it will eventually be closed. Some hold that the explanatory gap corresponds to an ontological gap in nature.

In Phenomenology and the Problem of History. David Carr examines the paradox involving Husserl's transcendental philosophy and his later historicist theory.

This Introduction introduces readers to the concepts of political philosophy: authority, democracy, freedom and its limits, justice, feminism, multiculturalism, and nationality. Accessibly written and assuming no previous knowledge of the subject, it encourages the reader to think clearly and critically about the leading political questions of our time. THe book first investigates how politcial philosophy tackles basic ethical questions such as 'how should we live together in society?' It furthermore looks at political authority, discusses the reasons society needs politics in (...) the first place, explores the limitations of politics, and asks if there are areas of life that shouldn't be governed by politics. Moreover, the book explores the connections between political authority and justice, a constant theme in political philosophy, and the ways in which social justice can be used to regulate rather than destroy a market economy. In his travels through this realm, Miller covers why nations ar the natural units of government and wonders if the rise of multiculturalism and transnational co-operation will change all this, and asks in the end if we will ever see the formation of a world government. (shrink)

Beneath the stylized violence and thrilling car crashes, the Mad Max films consider universal questions about the nature of human life, order and anarchy, justice and moral responsibility, society and technology, and ultimately, human redemption. In Mad Max and Philosophy, a diverse team of political scientists, historians, and philosophers investigates the underlying themes of the blockbuster movie franchise, following Max as he attempts to rebuild himself and the world. -/- This book guides you through the barren wastelands of a post-apocalyptic (...) future as you explore ethics and politics in The Wasteland, the importance of costumes and music, humankind's relationship with nature, commerce, gender, religion, madness, and more. (shrink)

Making Sense of Education provides a contemporary introduction to the key issues in educational philosophy and theory. Exploring recent developments as well as important ideas from the twentieth century, this book aims to make philosophy of education relevant to everyday practice for teachers and student teachers, as well as those studying education as an academic subject.

DISSERTATION T. The Natural History of Religion. INTRODUCTION. AS every enquiry, which regards Religion, is of the utmost importance, there are two ...

This volume is devoted to Lewis's work in metaphysics and epistemology. Topics covered include properties, ontology, possibility, truthmaking, probability, the mind-body problem, vision, belief, and knowledge. The purpose of this collection, and the volumes that precede and follow it, is to disseminate more widely the work of an eminent and influential contemporary philosopher. The volume will serve as a useful work of reference for teachers and students of philosophy.

This paper responds to comments and criticisms by Stefan Brandt and Eva-Maria Jung, directed at the book "Know-how as Competence. A Rylean Responsibilist Account".

The arithmetical -- Tripartite city, tripartite soul -- The one, the two, and the three -- The arithmetical character of Kallipolis -- Eros -- Intimations of Eros -- The three waves -- Kallipolis v. The republic -- Democracy, psychology, poetry -- Democracy -- Narrative psychology -- Psychological narrative -- Appendix -- The meaning of "dialectical" -- The technical meaning of "dialectic" -- The non-technical of "dialectic" -- Dialectic in The republic.

1 Introduction 2 Perceptual Concepts 2.1 Perceptual Concepts are not Demonstrative 2.2 Perceptual Concepts as Stored Templates 2.3 Perceptual Semantics 2.4 Perceptually Derived Concepts 3 Phenomenal Concepts.

Procreation and Parenthood offers new and original essays by leading philosophers on some of the main ethical issues raised by these activities.

The resemblance theory of representation is the view that one thing represents another by virtue of resembling it. Typically, it is taken as non-controversial that Berkeley accepts the resemblance theory of representation – even if the plausibility of the resemblance theory itself comes under scrutiny. One piece of evidence in favour of this reading of Berkeley is his commitment to the ‘likeness principle’: the view that ‘an idea can be like nothing but an idea’ (PHK § 8). The likeness principle (...) is typically seen as a rejection of the kind of indirect theory of perception that is often attributed to Locke. However, by paying particular attention to Berkeley’s account of how mental representation via the imagination works, Dávid Bartha casts doubt on the consensus view that Berkeley does accept the resemblance theory of representation. (shrink)