Reductionism In Economics

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Reductionism in Economics

Author : Kevin D. Hoover
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Reductionism in Economics by : Kevin D. Hoover

Download or read book Reductionism in Economics written by Kevin D. Hoover and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many sciences - physical, but also biology, neuroscience, and other life sciences - one object of reductionism is to purge intentionality from the fundamental basis of both explanations and the explanatory target. The scientifically relevant level - ontologically and epistemologically - is thought to lie deeper than the level of ordinary human interactions. In the material and living world, the more familiar is the less fundamental. In contrast, the economic world of day-to-day life - the world of market interactions - appears to be the relevant level. Macroeconomics is thought to provide an account that is above, not below or behind, ordinary economic decision-making. An advantage of a macroeconomic account is that it is possible to employ causal analysis of the economy as a whole analogous to the causal analysis of physical systems. The fear of many economists is that such analyses are untethered to ordinary economic decision-making. The object of reductionism in economics - the so-called microfoundations of macroeconomics - is adequately to ground or replace higher level causal analysis with an analysis of the day-to-day interactions of people. The object is not to purge intentionality, but to reclaim it. The paper will attempt to understand the key issues surrounding the microfoundations of macroeconomics from a perspectival realist perspective that elucidates the relationship between economists' methodological preference for microfoundations and need for macroeconomic analysis - that is, between economists' respect for the intentional nature of economic life and the need for a causal analysis of the economy. The paper favors metaphysical humility and methodological pragmatism.

Beyond Reductionism

Author : Katharine Farrell
Publisher : Routledge
ISBN 13 : 1136281711
Total Pages : 345 pages
Book Rating : 4.1/5 (362 download)

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Book Synopsis Beyond Reductionism by : Katharine Farrell

Download or read book Beyond Reductionism written by Katharine Farrell and published by Routledge. This book was released on 2013-05-07 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about the work of scientists in the era of the Anthropocene: where human beings appear to have become a driving force in the evolution of the planet. It is a diverse collection of empirical, methodological and theoretical chapters concerned with the practice of interdisciplinary social-ecological systems research. The aim of the contributors is to give the reader an appreciation for the range and complexity of the challenges faced by researchers, research institutions and wider communities trying to make sense of the causes and consequences of the this new era of global environmental change. The tragedy of the Anthropocene, of the large scale anthropogenic habitat destruction and planet-wide impacts of anthropogenic climate change, is not that science has failed humanity but rather that it has served humanity all too well, making possible in just a few hundred years volumes and scales of human activity far exceeding anything ever seen before. Coming to terms with that success was the aim of the 1969 Alpbach Symposium, from which this book draws its name, where contributors including Friedrich Hayek and Ludwig von Bertalanffy, asked themselves: what theory, practices and standards are required to move beyond reductionism? Like those from 1969, the answers presented in this collection are hugely diverse, ranging from PhD students concerned with research methods and institutional obstacles, to mid-career scholars presenting their innovative ‘beyond-reductionism’ research methods, to emeritus professors looking back over what has been achieved in the past 30 years and suggesting where things might go from here. All the contributors begin from the premise that the challenges of the Anthropocene can only be successfully met if interdisciplinary research effectively brings together social and natural sciences, the humanities, stakeholders and decision makers. They conclude, in unison, that both the institutional and the methodological foundations needed to do this work are still sorely lacking. While this may seem a dismal position, the book is full of success stories, such as: the integrative approach of MuSIASEM (Multi-Scale Integrative Assessment of Social-Ecological Metabolism) developed by Mario Giampietro’s group in Barcelona, Spain; the alternative perspectives of what Ariel Salleh calls the ‘meta-industrial’ discourse in Ecofeminism; or the innovative trans-departmental status of the Stockholm Resilience Centre in Sweden. Putting both the theoretical and methodological challenges of moving beyond reductionism on the table for discussion, this text aims to help a growing community of passionate thinkers and actors better understand themselves and their work.

Instrumentalism and Reductionism in Economics

Author : C. L. Buchanan
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (152 download)

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Book Synopsis Instrumentalism and Reductionism in Economics by : C. L. Buchanan

Download or read book Instrumentalism and Reductionism in Economics written by C. L. Buchanan and published by . This book was released on 1982 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Darwinian Reductionism

Author : Alexander Rosenberg
Publisher : University of Chicago Press
ISBN 13 : 0226727319
Total Pages : 275 pages
Book Rating : 4.2/5 (267 download)

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Book Synopsis Darwinian Reductionism by : Alexander Rosenberg

Download or read book Darwinian Reductionism written by Alexander Rosenberg and published by University of Chicago Press. This book was released on 2008-09-15 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the discovery of the structure of DNA in 1953, scientists working in molecular biology embraced reductionism—the theory that all complex systems can be understood in terms of their components. Reductionism, however, has been widely resisted by both nonmolecular biologists and scientists working outside the field of biology. Many of these antireductionists, nevertheless, embrace the notion of physicalism—the idea that all biological processes are physical in nature. How, Alexander Rosenberg asks, can these self-proclaimed physicalists also be antireductionists? With clarity and wit, Darwinian Reductionism navigates this difficult and seemingly intractable dualism with convincing analysis and timely evidence. In the spirit of the few distinguished biologists who accept reductionism—E. O. Wilson, Francis Crick, Jacques Monod, James Watson, and Richard Dawkins—Rosenberg provides a philosophically sophisticated defense of reductionism and applies it to molecular developmental biology and the theory of natural selection, ultimately proving that the physicalist must also be a reductionist.

The Microfoundations Delusion

Author : John Edward King
Publisher : Edward Elgar Publishing
ISBN 13 : 1781009120
Total Pages : 301 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis The Microfoundations Delusion by : John Edward King

Download or read book The Microfoundations Delusion written by John Edward King and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: ïThis excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.Í _ Michael Howard, University of Waterloo, Canada ïA generation ago Dudley Dillard wrote a famous article on the ñbarter illusion in classical and neoclassical economicsî. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.Í _ John Smithin, York University, Canada In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have ïrigorous microfoundationsÍ. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct ïspecial scienceÍ, cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.

Reduction, Rationality and Game Theory in Marxian Economics

Author : Bruce Philp
Publisher : Routledge
ISBN 13 : 1134444753
Total Pages : 157 pages
Book Rating : 4.1/5 (344 download)

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Book Synopsis Reduction, Rationality and Game Theory in Marxian Economics by : Bruce Philp

Download or read book Reduction, Rationality and Game Theory in Marxian Economics written by Bruce Philp and published by Routledge. This book was released on 2004-10-28 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main areas of interest in Marxian economics are examined, paying particular attention to class conflict, analytical Marxism and game theory and will be of interest to a wide variety of economists and social scientists.

Reductionism in Art and Brain Science

Author : Eric R. Kandel
Publisher : Columbia University Press
ISBN 13 : 0231542089
Total Pages : 237 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Reductionism in Art and Brain Science by : Eric R. Kandel

Download or read book Reductionism in Art and Brain Science written by Eric R. Kandel and published by Columbia University Press. This book was released on 2016-08-30 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are art and science separated by an unbridgeable divide? Can they find common ground? In this new book, neuroscientist Eric R. Kandel, whose remarkable scientific career and deep interest in art give him a unique perspective, demonstrates how science can inform the way we experience a work of art and seek to understand its meaning. Kandel illustrates how reductionism—the distillation of larger scientific or aesthetic concepts into smaller, more tractable components—has been used by scientists and artists alike to pursue their respective truths. He draws on his Nobel Prize-winning work revealing the neurobiological underpinnings of learning and memory in sea slugs to shed light on the complex workings of the mental processes of higher animals. In Reductionism in Art and Brain Science, Kandel shows how this radically reductionist approach, applied to the most complex puzzle of our time—the brain—has been employed by modern artists who distill their subjective world into color, form, and light. Kandel demonstrates through bottom-up sensory and top-down cognitive functions how science can explore the complexities of human perception and help us to perceive, appreciate, and understand great works of art. At the heart of the book is an elegant elucidation of the contribution of reductionism to the evolution of modern art and its role in a monumental shift in artistic perspective. Reductionism steered the transition from figurative art to the first explorations of abstract art reflected in the works of Turner, Monet, Kandinsky, Schoenberg, and Mondrian. Kandel explains how, in the postwar era, Pollock, de Kooning, Rothko, Louis, Turrell, and Flavin used a reductionist approach to arrive at their abstract expressionism and how Katz, Warhol, Close, and Sandback built upon the advances of the New York School to reimagine figurative and minimal art. Featuring captivating drawings of the brain alongside full-color reproductions of modern art masterpieces, this book draws out the common concerns of science and art and how they illuminate each other.

Full-Spectrum Economics

Author : Christian Arnsperger
Publisher : Routledge
ISBN 13 : 1135169772
Total Pages : 300 pages
Book Rating : 4.1/5 (351 download)

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Book Synopsis Full-Spectrum Economics by : Christian Arnsperger

Download or read book Full-Spectrum Economics written by Christian Arnsperger and published by Routledge. This book was released on 2010-01-08 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a philosophical critique of neoclassical and post-neoclassical economics.

Bringing the Social Back Into Economics

Author : Ben Fine
Publisher :
ISBN 13 : 9780734016720
Total Pages : 24 pages
Book Rating : 4.0/5 (167 download)

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Book Synopsis Bringing the Social Back Into Economics by : Ben Fine

Download or read book Bringing the Social Back Into Economics written by Ben Fine and published by . This book was released on 2000 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Hidden Rules of Race

Author : Andrea Flynn
Publisher : Cambridge University Press
ISBN 13 : 110841754X
Total Pages : 237 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis The Hidden Rules of Race by : Andrea Flynn

Download or read book The Hidden Rules of Race written by Andrea Flynn and published by Cambridge University Press. This book was released on 2017-09-08 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the racial rules that are often hidden but perpetuate vast racial inequities in the United States.

Economics Unmasked

Author : Manfred Max-Neef
Publisher : Bloomsbury Publishing
ISBN 13 : 0857840320
Total Pages : 304 pages
Book Rating : 4.8/5 (578 download)

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Book Synopsis Economics Unmasked by : Manfred Max-Neef

Download or read book Economics Unmasked written by Manfred Max-Neef and published by Bloomsbury Publishing. This book was released on 2011-08-30 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inspiring outline of a new economics system, where justice, human dignity, compassion and reverence for life are the guiding values. The economic system under which we live not only forces the great majority of humankind to live their lives in indignity and poverty but also threatens all forms of life on Earth. Economics Unmasked presents a cogent critique of the dominant economic system, showing that the theoretical constructions of mainstream economics work mainly to bring about injustice. The merciless onslaught on the global ecosystem of recent decades, brought about by the massive increase in the production of goods and the consequent depletion of nature's reserves, is not a chance property of the economic system. It is a direct result of neoliberal economic thinking, which recognizes value only in material things. The growth obsession is not a mistaken conception that mainstream economists can unlearn, it is inherent in their view of life. But a socio-economic system based on the growth obsession can never be sustainable. This book outlines the foundations of a new economics, where we are not ruled by greed and injustice. Contrary to the absurd assumption of mainstream economists that economics is a value-free science, a new economics must make its values explicit.

Wealth of Persons

Author : John McNerney
Publisher :
ISBN 13 : 9781498229951
Total Pages : 0 pages
Book Rating : 4.2/5 (299 download)

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Book Synopsis Wealth of Persons by : John McNerney

Download or read book Wealth of Persons written by John McNerney and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thomas Piketty's Capital in the Twenty-First Century initiated a great debate not just about inequality but also regarding the failures found in the economic models used by theoreticians and practitioners alike. Wealth of Persons offers a totally different perspective that challenges the very terms of the debate. The Great Recession reveals a great existential rift at the core of certain economic reflections, thereby showing the real crisis of the crisis of economics. In the human sciences we have created a kind of "Tower of Babel" where we cannot understand each other any longer. The "breakdowns" occur equally on the personal, social, political, and economic levels. There is a need for an "about-face" in method to restore harmony among dissociated disciplines. Wealth of Persons offers a key to such a restoration, applying insights and analysis taken from different economic scholars, schools of thought, philosophical traditions, various disciplines, and charismatic entrepreneurs. Wealth of Persons aims at recapturing an adequate understanding of the acting human person in the economic drama, one that measures up to the reality. The investigation is a passport allowing entry into the land of economic knowledge, properly unfolding the anthropological meaning of the free economy. "John McNerney's Wealth of Persons is an amazing tour de force--his focus on the human person in economics not only opens up economics for the nonprofessional economist, it's a bracing exposition of the philosophy of the human person, all the more impressive when seen immersed in economic action. By focusing on the Austrian and the later Bologna schools' insistence on the role of the entrepreneur he critiques, on the one hand, an economy overfocused on profit and, on the other, Marx's (and later Piketty's) misreading of economics as a struggle between capital and labor. It should be required reading for all students (and teachers) of economics as well as of applied philosophical anthropology." --Brendan Purcell, Adjunct Professor at the School of Philosophy and Theology, University of Notre Dame Australia, Sydney "This book is a welcome addition to the field of Catholic social teachings and more generally to the debate over the use of economics and its limits . . . The author aims to explain the 'crisis' in economics and in the economy without blaming the usual suspects, especially human greed. This research program is sorely needed, especially coming from someone outside of the field of economics." --Frederic Sautet, Associate Professor of Economics at the Catholic University of America "McNerney . . . is not afraid to suggest that theological and metaphysical issues are needed to put the right limits on economics. And he shows how this might be done without undermining the integrity of the discipline itself--indeed, how such issues flow out of the discipline and its activities among real persons] acting together . . . What McNerney is really getting at is a placing of economics in its true place, with the realization that the acting person also has a transcendent destiny that is really why he is doing anything at all in the first place, as Augustine said." --Professor James V. Schall, Retired Professor of Political Philosophy in the Department of Government at Georgetown University John McNerney is head chaplain at University College Dublin. Author of John Paul II: Poet and Philosopher (2004), he is also an occasional lecturer to undergraduate and graduate students in the fields of business ethics and philosophy. He has given talks at various international conferences in North America, Europe, and Asia, and is a member of the national Economy of Communion commission in Ireland.

Economics of Global Business

Author : Rodrigo Zeidan
Publisher : MIT Press
ISBN 13 : 0262535629
Total Pages : 426 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Economics of Global Business by : Rodrigo Zeidan

Download or read book Economics of Global Business written by Rodrigo Zeidan and published by MIT Press. This book was released on 2018-11-13 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: A textbook with innovative real-world macroeconomic analyses of timely policy issues, with case studies and examples from more than fifty countries. This timely and refreshingly real–world focused textbook examines some of the world's most critical policy issues through a macroeconomics lens. After presenting analytical foundations, modeling tools, and theoretical perspectives, Economics of Global Business goes a step further than most other texts, with a practical look at the local and multinational tradeoffs facing economic policymakers in more than fifty countries. Topics range from income equality and the financial crisis to GDP, inflation and unemployment, and, notably, one of the first macroeconomic examinations of climate change. Written by a globetrotting economist who teaches and consults on three continents, Economics of Global Business aims not for definitive answers but rather to provide a better understanding of the context-dependent rationales, constraints, and consequences of economic policy decisions. The book covers long-run and short-run growth (with examples from the United States, China, the European Union, South Korea, Japan, Latin America, Africa, Australia, and Vietnam); financial crises and central banks; monetary and fiscal policies; government budgets; currency regimes; climate change and macroeconomics; income inequality; and globalization. All chapters rely on recent and historical examples of economic policy in action. The book is particularly suitable for use as an introduction to macroeconomics for business students.

Biosocial Surveys

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309108675
Total Pages : 429 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Biosocial Surveys by : National Research Council

Download or read book Biosocial Surveys written by National Research Council and published by National Academies Press. This book was released on 2008-01-06 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: Biosocial Surveys analyzes the latest research on the increasing number of multipurpose household surveys that collect biological data along with the more familiar interviewerâ€"respondent information. This book serves as a follow-up to the 2003 volume, Cells and Surveys: Should Biological Measures Be Included in Social Science Research? and asks these questions: What have the social sciences, especially demography, learned from those efforts and the greater interdisciplinary communication that has resulted from them? Which biological or genetic information has proven most useful to researchers? How can better models be developed to help integrate biological and social science information in ways that can broaden scientific understanding? This volume contains a collection of 17 papers by distinguished experts in demography, biology, economics, epidemiology, and survey methodology. It is an invaluable sourcebook for social and behavioral science researchers who are working with biosocial data.

Dionysian Economics

Author : Benjamin Ward
Publisher : Springer
ISBN 13 : 1137597364
Total Pages : 285 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Dionysian Economics by : Benjamin Ward

Download or read book Dionysian Economics written by Benjamin Ward and published by Springer. This book was released on 2016-10-03 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nietzsche distinguished between two forces in art: Apollonian, which represents order and reason, and Dionysian, which represents chaos and energy. An ideal work of art combines these two characteristics in a believable, relatable balance. Economists, Ward argues, have operated for too long under the assumption that their work reflects scientific, Apollonian principals when these simply do not or cannot apply: "constants" in economics stand in for variables, mathematical equations represent the simplified ideal rather than the complex reality, and the core scientific principal of replication is all but ignored. In Dionysian Economics, Ward encourages economists to reintegrate the standard rigor of the scientific method into their work while embracing the fact that their prime indicators come from notoriously chaotic and changeable human beings. Rather than emphasizing its shortfalls compared to an extremely Apollonian science, such as physics, economics can aspire to the standards of a science that accounts for considerable Dionysian variation, such as biology. The book proposes that economists get closer to their dynamic objects of study, that they avoid the temptation to wish away dynamic complexity by using simplifying assumptions, and that they recognize the desire to take risks as fundamentally human.

Keynesian Economics

Author : Alan Coddington
Publisher : Routledge
ISBN 13 : 1136516255
Total Pages : 160 pages
Book Rating : 4.1/5 (365 download)

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Book Synopsis Keynesian Economics by : Alan Coddington

Download or read book Keynesian Economics written by Alan Coddington and published by Routledge. This book was released on 2013-10-08 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keynesian Economics provides a wide-ranging critical examination of the presuppositions and procedures of Keynesian analysis. The result is both a clear guide to modern macro-economic theory and policy and a revealing exercise in the recent history of ideas - ideas which are highly contentious and still deeply influential. "(Alan) Coddington made several substantive contributions to the understanding of Keynesian economics which established his fame not merely in the UK but in major centres of economics around the world." The Times

Economics and Evolution

Author : Geoffrey Martin Hodgson
Publisher : University of Michigan Press
ISBN 13 : 9780472084234
Total Pages : 398 pages
Book Rating : 4.0/5 (842 download)

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Book Synopsis Economics and Evolution by : Geoffrey Martin Hodgson

Download or read book Economics and Evolution written by Geoffrey Martin Hodgson and published by University of Michigan Press. This book was released on 1996 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: How evolutionary ideas can be used to reconstruct economics.