Questions tagged [philosophy-of-economics]
36 questions
6
votes
2 answers
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 (emphasis mine):
Physical processes at the…
luchonacho
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3
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1 answer
What is the issue in mapping verbal concepts to math symbols without proper justification, in economics?
I am really sorry for the vague question. I was going through some research on excessive math in economics, and I stumbled across this thread Criticism of Math in Economics
One of the comments was - ".... the most interesting thing here is this…
Garvit Gupta
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3
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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 scored earlier:
The University of Iowa beats the…
user18
1
vote
1 answer
Market as a system versus Market as an institution
Can the concept of the market be considered as a "system" or not? What about "institution"?
What are the scientific articles in this field?
Yavar Hoseini
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0
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1 answer
Economy with constant amount of money
A thought experiment: (Based on my understanding of economics)
Suppose we are guaranteed that no natural calamity/war/pandemic happens for one year (from year $0$ to year $1$) in the world. Then the scientific knowledge ($K_{year}$) of the world is…
-1
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1 answer
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? By which I mean that:
In order to be considered a…
mavavilj
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