Questions tagged [philosophy-of-economics]
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14
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1answer
43 views
Are revealed preferences normative or positive notion?
I always thought from my understanding of the terms normative and positive that revealed preferences are a positive concept. For example, saying Anakin prefers grass to sand (i.e. $U(g)\succ U(s)$) is ...
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2answers
31 views
What justifies the authority of a bank to create money when they make loans?
This is somewhat of a political or philosophical question.
As explained by the Bank of England and elsewhere, the majority of broad money is created by credit to banks' accounts when they make loans. ...
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4answers
126 views
Big research goals in economics?
Are there any big, overarching research goals in economics?
Examples from other fields that come to my mind:
Mathematics: Millenium problems, Hilbert's problems, Collatz conjecture, ...
Computer ...
5
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4answers
147 views
Understanding Classical Rationality at a Basic Level
I am a high school student in an intro Microeconomics class (note that we have not covered utility functions) and I'm utterly confused about the classical concept of rationality. I certainly ...
1
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2answers
61 views
Non-axiomatic definition of well-being
I first wanted to ask this on philosophy@SE but, on a second thought, decided this might be a better place.
If we defined a general policy's objective being "to maximize well being and minimize ...
1
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0answers
44 views
Zero-sum games being converted into positive-sum games
It seems as if "pure, naked self-interest", that is, self-interest without liberty, results often in a zero-sum game. (I'm using the term liberty in a Lockean sense, where it is taken to mean the ...
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4answers
283 views
What is economics?
It has been disturbing me since the first year of college that the meaning of economic is express too much as it is too less. "Study of scarcity, utilize the limited resources to satisfy unlimited ...
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2answers
92 views
Philosophy books for decision theory and economics idea
I have learned economics so far, the most astonishing economics' thing is its though which is talkable and visually in the real world or the abstract world that is worth researching and talking. What ...
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1answer
75 views
How did economics become a “science”, an academic field?
How did economics become a "science", an academic field?
Because I think of it as a soft science and thus in order to be considered a science it would need to be able to reply to the hard sciences? ...
4
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2answers
177 views
Arrow of time and irreversibility in Economics
In physics there is the concept of arrow of time, which states that time only evolves in one direction (forward), and that this should be visible in the material world. As the Wikipedia article states ...
4
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3answers
155 views
McCloskey's example of fungibility in basketball
To illustrate the concept of fungibility, Deirdre McCloskey (1985, p. 7, PDF) gives an example from basketball.
She claims that the last two points scored are no more important than any two points ...
2
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1answer
40 views
Which are some proven methods to compare alternative economic theories?
Based on this question about alternative schools of thought, this question about untested economic theories, and the rather unsatisfactory answer (imo) to this question about which is the "most ...
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6answers
5k views
Which are the different Schools of Economic Thought?
It would be great to have a brief but comprehensive list of current (e.g. Austrian) and defunct (e.g Mercantilism) schools of thought in Economics. I think an ideal answer would include:
the defining ...
5
votes
5answers
880 views
Where does capital come from?
Sorry if this is a birds and the bees type question. Where does capital come from? And I am not talking human capital (which to my mind is skills basically). I suppose I'm taking about financial ...
