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Economics and Other Disciplines
Assessing New Economic Currents





ISBN 9781138642447
Published May 22, 2017 by Routledge
184 Pages

 
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Book Description

During the second half of the twentieth century, economics exported its logic – utility maximization – to the analysis of several human activities or realities: a tendency that has been called “economic imperialism”. This book explores the concept termed by John Davis as “reverse imperialism”, whereby economics has been seen in recent years to have taken in elements from other disciplines.



Economics and Other Disciplines sheds light on the current state and possible future development of economics by focusing on it from a philosophical perspective, broadening the concept of rationality in economic theory. The beliefs that prevail in the world today make up a physicalist worldview. This book argues that this pervasive view is harmful for economics as a social science. Do new economic currents like behavioral economics, evolutionary economics, neuroeconomics, institutional economics, happiness economics, the capability approach and civil economy, escape this widespread mentality? What would be an adequate underlying economic ethos? Do these approaches fit into this ethos?



Ricardo F. Crespo appraises the contributions from a classical philosophy angle, emphasizing their implications regarding practical reason. This volume is of great importance to those who are interested in political economy, economic theory and philosophy, as well as philosophy of social science.

Table of Contents

1 Introductory overview



 



2 The theoretical and metaphysical foundations of sciences



The metaphysical worldview



Physicalism, materialism and naturalism



Practical and instrumental reason



The evolution of economics



Conclusion



 



3 Economics and psychology



Herbert Simon and ‘Bounded Rationality’



The ‘Ecological Rationality’ or ‘Frugal Heuristics’ approach



Modern Behavioral Economics (MBE)



Libertarian Paternalism



Conclusion



 



4 Evolutionary economics



Richard Nelson on ‘Universal Darwinism’



Geoffrey Hodgson on ‘Universal Darwinism’



Ulrich Witt, evolution and Darwinism



Conclusion: Evolutionary economics and practical reason



 



5 Neuroeconomics



The metaphysics of neurosciences



Types of physicalism and dualism



Looking for alternative explanations for non-physicalists



The metaphysics of neuroeconomics



Conclusion



 



6 Happiness economics



Happiness and economics



Different concepts of happiness



Flourish, calling and flow



Measuring flourishing



Conclusion



 



7 Institutional economics



Economics and institutions



Agency, habits and institutions in light of classical practical reason



Thorstein Veblen



Contemporary economic theories of institutions



Rule Theory



Equilibrium Theory



Constitutive Rules Theory



Conclusion



 



8 The Capability Approach



Introducing the Capability Approach



Some problems in Sen’s CA



Identification of valuable capabilities: the debate over lists of capabilities



Heterogeneity and incommensurability



Conclusion



 



9 Civil Economy



Historical and intellectual roots of Civil Economy: from Aristotle to Genovesi and Dragonetti



From Aristotle to nowadays



Conclusion



 



10 Conclusion

...
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Author(s)

Biography

Ricardo F. Crespo is a Professor of Philosophy of Economics in IAE (Universidad Austral) and in Universidad Nacional de Cuyo, Argentina. He is a researcher at the National Council of Scientific Research (CONICET, Argentina) and has published extensively in his field.

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Author - Ricardo F.  Crespo
Author

Ricardo F. Crespo

Prof., Universidad Austral and CONICET

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