Philosophy Of Economics
Philosophy of Economics
The philosophy of economics concerns itself with conceptual, methodological, and
ethical issues that arise within the scientific discipline of economics.1 The primary focus is on issues of methodology and epistemology—the methods, concepts, and theories through which economists attempt to arrive at knowledge about economic processes. 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. Finally, the philosophy of economics is
concerned with the concrete social assumptions that are made by economists. Philosophers have given attention to the institutions......
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