Philosophy of Economics

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William A


Date added:

January 4, 2013








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15 / 3932


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Philosophy of economics is also concerned with the ways in which ethical values are involved in economic reasoning?the values of human welfare, social justice, and the tradeoffs among priorities that economic choices require. Economic reasoning has implications for justice and human welfare; more importantly, economic reasoning often makes inexplicit but significant ethical assumptions that philosophers of economics have found it worthwhile to scrutinize...
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Finally, the philosophy of economics is concerned with the concrete social assumptions that are made by economists. Philosophers have given attention to the institutions and structures through which economic activity and change take place. What is a "market"? Are there alternative institutions through which modern economic activity can proceed? What are some of the institutional variants that exist within the general framework of a market economy? What are some of the roles that the state can play within economic development so as to promote efficiency, equity, human well-being, productivity, or growth? The dimension of the philosophy of economics that falls within the philosophy of science has to do with the status of economic analysis as a body of empirical knowledge...
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