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Economics : Mathematical Politics or Science of Diminishing Returns? - Alexander Rosenberg

Economics

Mathematical Politics or Science of Diminishing Returns?

Paperback

Published: 1st January 1992
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Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenberg's controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability—the capacity to create more precise forecasts by evaluating the success of earlier predictions—and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it is not a science.

Preface
What Does the Philosophy of Science
Have to Do with Economics?
The real relation between philosophy and science
The mutual constraints of goals, theories, and rules
The proximate goals of economics
Two Dead Ends in the Philosophy of Economics
Does philosophy constrain economics?
Economics without epistemology
The role of prediction in biology, physics, and economics
Is Economic Theory Predictively Successful?
Friedman on the predictive weakness of economic theory
Leontief on the same subject
Are generic predictions enough?
Generic predictions in Keynesian macroeconomics and rational expectations theory
Gibbard and Varian on economic models as caricatures
Neoclassical Economics as a Research Program
The methodology of scientific research programs
Lakatosian consolations for economists
Research programs and the demarcation problem
Down the slippery slope to McCloskey
Economics and Intentional Psychology
Expectations and preferences, beliefs and desires
The problem of improvability Economics and linguistics: Nelson's gambit
Are there expectations and preferences?
Conclusion
Could Economics Be a Biological Science?
The problem of exogenous tastes Becker's new theory of consumer choice
Stable preferences as human needs Can we "naturalize" information?
Generic predictions and the temptation of biology
Darwin, Friedman, and Alchain
Equilibrium and information in evolution and economics
Conclusion
Why General Equilibrium Theory?
"Economics just is general equilibrium analysis"
Can we have partial equilibrium without general equilibrium?
What needs explanation?
Can general equilibrium theory explain it?
General equilibrium and the social contract
Are generic predictions enough after all?
Is Economic Theory Mathematics?
Extremal theories and intentionality
Economics as applied mathematics
Microeconomics and Euclidean geometry
But is it science?
Bibliography
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780226727240
ISBN-10: 0226727246
Series: Science & Its Conceptual Foundations S.
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 283
Published: 1st January 1992
Publisher: The University of Chicago Press
Country of Publication: US
Dimensions (cm): 22.8 x 15.2  x 1.91
Weight (kg): 0.4
Edition Number: 2
Edition Type: New edition