scholarly journals Ethonomics & the History of Economic Thought

2011 ◽  
Vol 2 (5) ◽  
pp. 223-232
Author(s):  
Ahmad Jafari Samimi
Keyword(s):  
Moral Philosophy ◽  
Economic Thought ◽  
The Other ◽  
History Of Economic Thought ◽  
History Of ◽  
In The Beginning ◽  
The Relationship

The purpose of this paper is to survey the relationship between economics and ethics in the history of economic thought. So the descriptive methodology of research is applied to find study and analyze the references which have been written about the matter. The conclusion shows that economics not only hasn’t been detached from ethics, but also has been the subdirectory of ethics in the beginning. In the other word economics grew out of moral philosophy and eventually became one of the moral sciences but these two sciences detached from each other as times go on, and this detachment is not part of the tradition of economics.

scholarly journals The Moral and Political Dimension of Economics The Fact-Value Dichotomy

2016 ◽  
Vol 19 (4) ◽  
Author(s):  
Vasco Almeida
Keyword(s):  
Moral Philosophy ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
The Political ◽  
Policy Makers ◽  
Political Dimension ◽  
Economic Theories ◽  
Positive Science ◽  
History Of ◽  
Economic Analyses

Since the neoclassical school, the separation between facts and values, is and ought, positive and normative, has become a concern in conventional economic analyses. Economics should focus on facts, and present general principles, leaving the choice of various technical alternatives to policy makers. This article addresses the following questions: can economics, seen as a positive science, be separated from the political dimension? Is it possible to separate facts from values or are they necessarily intertwined?After showing how the separation between economics and moral philosophy unfolded throughout the history of economic thought, the article analyses the factvalue dichotomy discussion and concludes that facts and values are necessarily intertwined. Then, the article shows that the premises and theories of conventional economic theories contain hidden values, despite being presented as universal truths on which policies are based, and thus fail to discuss the various perspectives of the problems.Reviving a tradition commenced by Aristotle, the article concludes by arguing that economics is necessarily moral and political. However, the acknowledgement of the normative nature of economics cannot compromise the pursuit of objectivity.

scholarly journals Does Friendship Stem from Altruism? Adam Smith and the Distinction between Love-based and Interest-based Preferences

2021 ◽  
Author(s):  
Elias Khalil
Keyword(s):  
Adam Smith ◽  
Economic Thought ◽  
The Other ◽  
History Of Economic Thought ◽  
Moral Sentiments ◽  
History Of ◽  
The Difference ◽  
The Individual ◽  
Theory Of Moral Sentiments

Forthcoming in "Journal of the history of economic thought" in 2003 or 2004 Abstract: Friendship-and-love expresses musings about wellbeing—while “wellbeing” is the economist’s substantive satisfaction. Insofar as altruism is about wellbeing, it must differ from friendship-and-love. However, what is the basis of the difference between substantive satisfaction and friendship-and-love? The answer can be found in Smith’s Theory of Moral Sentiments, chapter 2: how “mutual sympathy” differs from “sympathy.” Smith scholars generally miss the uniqueness of “mutual sympathy” and, indeed, fold it under Smith’s “sympathy” (and “empathy”)—with one exception. Robert Sugden highlights the uniqueness of mutual sympathy. However, he goes to the other end, i.e., folds it under Smith’s sympathy-and-empathy”. This paper aims to avoid the folding in either direction. While mutual sympathy originates love-based sociality (friendship-and-love), sympathy-and-empathy originates interest-based sociality (wellbeing that includes altruism). This paper concludes that friendship is neither reducible to altruism nor vice versa. Further, this paper distinguishes this problem from the question regarding the socialization of the individual.

scholarly journals Journal of the History of Economic Thought preprints - Harry Helson’s Adaptation-Level Theory, Happiness Treadmills, and Behavioral Economics

2017 ◽  
Author(s):  
José Edwards
Keyword(s):  
Utility Theory ◽  
Experimental Approach ◽  
Expected Utility Theory ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
Adaptation Level ◽  
Behavioral Psychology ◽  
Adaptation Level Theory ◽  
History Of ◽  
The Relationship

Psychologist Harry Helson [1898-1977] developed Adaptation-Level (AL) theory during the 1930s-70s, while economics was being refined through ordinalism and expected utility theory. This essay accounts for the process of transmission of AL theory from psychophysics, to behavioral psychology and eventually economics. It explains how the concept of adaptation reflectance, originally intended to explain color vision, developed into an experimental approach that caught the attention of both psychologists and economists working on welfare analysis and behavioral research. It also argues that the history of AL theory – so far absent from narratives about economics and psychology – is worth exploring in order to gain a better understanding of the relationship between the two disciplines.

THE REFORMATION OF ECONOMIC THOUGHT DUTCH CALVINIST ECONOMICS, 1880–1948

2013 ◽  
Vol 78 (2) ◽  
pp. 124-143
Author(s):  
Joost W. Hengstmengel
Keyword(s):  
Central Place ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
Normative Approach ◽  
Classical Economics ◽  
The Reformation ◽  
History Of ◽  
Positive Economics ◽  
The Relationship ◽  
Economic Domain

The first decades of the twentieth century saw the emergence of Calvinist economics in the Netherlands. This clearly normative approach to economics was inspired by Abraham Kuyper and was criticized by mainstream economists from the outset. It would eventually disappear under pressure of positive economics, but survived until at least the middle of the century. Calvinist economics itself was highly critical of classical economics and, unlike the neo-classical school, strove after an entire reformation of economic thought. Calvinists writers like T. de Vries, P. A. Diepenhorst, J. A. Nederbragt and J. Ridder did not constitute a school of economic thought, but nevertheless shared some fundamental ideas such as the influence of world views on economics, the existence of divine ordinances for the economic domain, and the central place of man in God’s plan for the economy. In this article, I describe the rise, sources of inspiration, fundamentals, aim and methodology of Calvinist economics. Although the perspective of this article is historical, this episode from the history of economic thought may inform us about the relationship between Christianity and the science of economics as well as that between economics and the economic crisis.

How Homo economicus lost her mind and how we can revive her

2018 ◽  
Vol 41 ◽  
Author(s):  
Peter DeScioli
Keyword(s):  
Economic Thought ◽  
History Of Economic Thought ◽  
Homo Economicus ◽  
Economic Theories ◽  
Target Article ◽  
History Of ◽  
The Mind ◽  
And Behavior

AbstractThe target article by Boyer & Petersen (B&P) contributes a vital message: that people have folk economic theories that shape their thoughts and behavior in the marketplace. This message is all the more important because, in the history of economic thought, Homo economicus was increasingly stripped of mental capacities. Intuitive theories can help restore the mind of Homo economicus.

Essays of a “comparatively progressive” economist (On the 150th birth anniversary of Vladimir Geleznoff)

2019 ◽  
pp. 135-145
Author(s):  
Viktor A. Popov
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
The Political ◽  
Russian History ◽  
Working Ability ◽  
Intellectual Inquiry ◽  
History Of

Deep comprehension of the advanced economic theory, the talent of lecturer enforced by the outstanding working ability forwarded Vladimir Geleznoff scarcely at the end of his thirties to prepare the publication of “The essays of the political economy” (1898). The subsequent publishing success (8 editions in Russia, the 1918­-year edition in Germany) sufficiently demonstrates that Geleznoff well succeded in meeting the intellectual inquiry of the cross­road epoch of the Russian history and by that taking the worthful place in the history of economic thought in Russia. Being an acknowledged historian of science V. Geleznoff was the first and up to now one of the few to demonstrate the worldwide community of economists the theoretically saturated view of Russian economic thought in its most fruitful period (end of XIX — first quarter of XX century).

Thorstein Veblen: A View from the 21st Century

2007 ◽  
pp. 73-85 ◽  
Author(s):  
R. Nureev
Keyword(s):  
21St Century ◽  
Institutional Economics ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
Thorstein Veblen ◽  
History Of

The article provides a description of T. Veblen’s views, showing his place in the history of economic thought. The author analyzes the context of Veblen’s life and work and considers different aspects of his theoretical legacy. Special attention is paid to the discussion of Veblen’s role in the development of institutional economics. The author describes in detail the main trends in the development of institutionalism after Veblen.

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