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)

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)

(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.

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)

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)

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)

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)

Is subjective expert judgment a source of evidence in economics? In this paper, I will argue that it is, on a par with other sources like modeling, statistics, experimental, etc. I will also argue that it is not derivative, that is, reducible to the previous ones. But what is exactly the role of experts in economics? The contribution to the current methodological debate that I propose not only takes the role of expertise in economics as indispensable, but also suggests a (...) need for a methodology associated with that role. I defend an indispensability argument, and indirectly David Colander's plea for refocusing the methodological debate on the lost art of economics. Finally, I indicate where to look for guidelines in formulating a methodology of economic expertise. (shrink)

Volume 19, Issue 11, November 2019, Page 67-68.

The proper purpose of any human institution is to improve the lives of the people who depend on it. If we support that proposition, then is there any place for a private-purpose corporation? The question becomes especially urgent as society and the human species face growing threats.This paper posits that the private-purpose corporation, and the neoliberal ideology that affirms it, are major drivers of the social and environmental destruction we daily witness. If that is the case, then what might be (...) essential features of business institutions that would better serve humanity? What might be the role of a Theory of Community. And what might that mean for business education? This paper provides a broad framework for exploring those questions from a humanistic management perspective. It addresses the foundational issue of human purpose, describes the growing momentum for moving societies toward an ecological civilization, and notes the Earth Charter as a valuable source of ethical principles. Finally, it identifies the outcomes the formal institutions of an ecological civilization must serve and concludes with five design principles that these institutions will need to honor to support lives of diversity, beauty, creativity, and meaning for all. (shrink)

Our story is changing. The Universe has given our species everything we need to actualize our potential. Evolution is knocking at our doors. The connected life is here. We are being fed this minute with the very nutrients that can assure that we live the lives that fulfill us and that serve the greater whole. Our natural inheritance, combined with the pattern that connects us with the rest of Life, calls us to be fully ourselves. This has always been the (...) case, but now it is becoming more evident. Our lives are Life's life. The details unfold within. David "Lucky" Goff, Ph.D., M.F.T., served as adjunct faculty at the Institute of Transpersonal Psychology, where he employed large group processes to promote community and personal development. David also assists organizations, including therapeutic and spiritual communities, in their quests to create and sustain genuine community. His research into the "psychological sense of community" is the first to examine and describe the conditions that facilitate collective consciousness. In 2003 David had a brain aneurism. As a result of his stroke and the onset of a rare brain syndrome, he nearly died and ended up permanently disabled. This experience had a transformational effect on David, which made him "Lucky" and cued him into how radically connected all things are. This broader awareness now informs his approach toward what it means to be human. He maintains a psychotherapy practice specializing in psycho-spiritual development. He also writes extensively about a psychology of interdependence, community, elders, and the conditions that lead to a social and ecological sense of connection. (shrink)

While a number of classical pragmatists crafted their philosophies in conjunction with a careful study of Hegel's works, others saw their philosophies emerge in antagonism with proponents of Hegel. In this paper, we offer an instance of the latter case. Namely, we show that the impetus for Charles S. Peirce's early articulation and avowal of realism (the claim that some generals are real) was William Torrey Harris's claim that the formal laws of logic lacked universal validity. According to Harris, the (...) leading representative of Hegelism in the United States, the universal validity of the laws of logic rested on a nominalistic metaphysics that a Hegelian-realism showed to be false. In response to this charge, we articulate how Peirce's attempt to prove the universal validity of the laws of logic resulted in avowing a realism that differed from both nominalism and Harris's Hegelian-realism. (shrink)

This essay presents the use-first-and-investigate-later (UFAIL) approach to technological use through two case studies: the atomic bomb in World War II and chemical defoliants during the Vietnam War. The methodology of UFAIL is as follows: despite limited understanding of an array of potential effects (medical, environmental, etc.), technology users employ a commitment to ex post facto investigations of these effects. In generalizing these cases, the essay argues (a) that failure to check rapid technological uptake will result in continued disaster and (...) (b) the abatement of the negative consequences of UFAIL is a more tempered approach to the infiltration of technologies into society by rigorous and preemptive investigation into the potential effects of a technology. (shrink)

The target article skillfully evaluates data on mental disorders in relation to predictions from evolutionary genetic theories of neutral evolution, balancing selection, and polygenic mutation-selection balance, resulting in a negative outlook for the likelihood of success finding genes for mental disorders. Nevertheless, new conceptualizations, methods, and continued interactions across disciplines provide hope.

Moral suspicions about the practice of law are hardly new. David Luban looks back to some of the classic philosophic articles on legal ethics. He than uses these and more recent articles to debate and augment each other, creating a comprehensive survey of articles concerning the ethics of lawyers.

Originally published in 1987, this volume reflects the diversity in Hegelianism and every branch of philosophy which he contributed to. It includes essays on his contribution to contemporary social philosophy, logic and the philosophy of religion. His work is examined in relation to Marx, Wittgenstein and his social philosophy discussed from a feminist standpoint.

In “Why Forgiving the Unrepentant is not Demeaning or Insulting: A Reply to Nicholas Wolterstorff,” David E. Wright argues against Wolterstorff’s view in Justice in Love that it is wrong or impossible to forgive the unrepentant wrongdoer. In response to Wolterstorff’s claim that it is impossible to forgive the unrepentant, Wright presents the case of Timothy and Hubert, which seems to show that one can forgive the unrepentant and take the wrong seriously. In response to Wolterstorff’s claim that it (...) is not morally permissible to forgive the unrepentant, Wright employs Trudy Govier and Colin Hirano’s invitational model of forgiveness, in which the act of forgiveness serves as the impetus or “invitation” for reconciliation. To illustrate this, Wright presents the case of Timothy and Jake, which seems to show that forgiving the unrepentant can be respectful of both the victim and the wrongdoer. (shrink)

Each year a national day of commemoration of the war dead is celebrated on 11th November in the United Kingdom. Despite public controversy about the nature and purpose of remembrance, there has been no significant discussion of the role schools should play in this event. In this centenary year of the outbreak of the First World War, with the government planning to send groups from every secondary school in Britain to tour the battlefields of the western front over the next (...) four years, the question of how war should be remembered in schools is more pressing than ever. In this bold and rigorous pamphlet, David Aldridge takes a hard look at the reasons usually advanced for involving children and young people in commemorating the war dead, and finds many of them wanting. He critically examines the high profile in schools of charities, like the Royal British Legion, with vested interests in certain kinds of commemoration. And he argues forcefully for a justification of remembrance in schools that requires a major rethink of established rituals and practices. This is a compelling treatment of a topic high on the agenda of teachers and education policy-makers and will be an invaluable resource for anyone involved in planning centenary commemorative events for children and young people. (shrink)

If there is any justice in the world, Bai Tongdong’s recent book China: The Political Philosophy of the Middle Kingdom will find a ready audience among students and nonspecialists interested in classical Chinese political thought and what it has to say about China now and good government in general. Although it is a fine introduction to early Chinese political philosophy, it is more than just that. Bai’s overarching theme is that China in the Spring and Autumn and Warring States period (...) (referred to as SAWS, roughly 771–221 b.c.e.) was facing a social and political situation very similar to that in modern Europe, and the Chinese philosophy of this period is best understood as a kind of modern philosophy. He argues .. (shrink)

In Chapter 2 of Taking Morality Seriously, I put forward an argument for morality's objectivity that is based on the first-order implications of denying such objectivity. In her contribution to this volume, Mancuso criticizes that argument. This paper is a response to some of her main points.

In my paper, I interpret Hölderlin’s »poetic dwelling« in the sense of a contribution to the philosophy of design, i.e. a theory of beautiful yet functional artifacts. The interpretation aims at an ethics of aesthetics in which what I call ›poetry of design‹ is considered as a constitutive element for human autonomy in a world crammed with artifacts: good design is presented as morally good in the way that it does not interfere with self-determination, but instead promotes it because good (...) design is beautiful. (shrink)

Presents essays and articles by 17 philosophers and legal scholars on sexuality, the family, and the proper role of the law in these areas. Subjects include the social construction and reconstruction of care, pornography left and right, homosexuality and the constitution, and declining well-being among US children. For students and general readers interested in sexuality, gender, feminism, and the family. Annotation copyright by Book News, Inc., Portland, OR.