The Inexact and Separate Science of Economics

Daniel M. Hausman (Rutgers University, New Jersey)

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Hardback

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English

Cambridge University Press
08 June 2023

Social & political philosophy; Economic theory & philosophy

Is economics a science? What distinguishes it from other sciences, both natural and social? Like many of the natural sciences, its theories are mathematically complex. Yet, like the social sciences, its 'laws' are largely everyday generalizations. Can such generalizations, which are far from universal truths, constitute a science? Does economics have a distinctive method? The first edition answered these and other questions about the scientific status of economics and its underlying methodology. In this fully updated new edition, Dan Hausman reflects on developments in both economics and the philosophy of economics over the last thirty years. It includes a new chapter on the methodology of macroeconomics, an updated discussion on the use of models, and new discussions causal inference and behavioural economics and their implications for theory appraisal. It is the perfect choice for a new generation of students studying the methodology of modern economics.

By: Daniel M. Hausman (Rutgers University New Jersey)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Edition: 2nd Revised edition
Dimensions: Height: 229mm, Width: 152mm, Spine: 30mm
Weight: 995g
ISBN: 9781009320290
ISBN 10: 1009320297
Pages: 450
Publication Date: 08 June 2023
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

Daniel M. Hausman is the author of seven books and nearly 200 essays on issues at the boundaries between economics and philosophy. With Michael McPherson, he is the co-founder and former editor of the journal, Economics and Philosophy. In 2009, Hausman was elected to the American Academy of Arts and Sciences.