Concern about the role and the limits of modeling has heightened after repeated questions were raised regarding the dependability and suitability of the models that were used in the run-up to the 2008 financial crash. In this book, Lawrence Boland provides an overview of the practices of and the problems faced by model builders to explain the nature of models, the modeling process, and the possibility for and nature of their testing. In a reflective manner, the author raises serious questions about the assumptions and judgments that model builders make in constructing models. In making his case, he examines the traditional microeconomics-macroeconomics separation with regard to how theoretical models are built and used and how they interact, paying particular attention to the use of equilibrium concepts in macroeconomic models and game theory and to the challenges involved in building empirical models, testing models, and using models to test theoretical explanations.
Lawrence Boland takes issue with both economic methodologists and practicing economists. He argues that there has been too much 'methodology for methodology's sake' and that mainstream economics might benefit by using methodology to take a critical look at economic theory.
Many consider Foundations of Economic Method to be Lawrence Boland's best work. This updated edition is radically changed from the original and will be much appreciated by thinkers within economics. The book positions methodology vis-à-vis the current practice of economists and is all the better for it. Yet another book that not only deserves to be read by those within the field of economic methodology, but also by those involved in economics at all. Boland is back.
Many consider Foundations of Economic Method to be Lawrence Boland's best work. This updated edition is radically changed from the original and will be much appreciated by thinkers within economics. The book positions methodology vis-is the current practice of economists and is all the better for it. Yet another book that not only deserves to be r
The major methodological task for modern economists has been to establish the testability of models. Too often, however, methodological assumptions can make a model virtually impossible to test even under ideal conditions, yet few theorists have examined the requirements and problems of assuring testability in economics. In The Methodology of Economic Model Building, first published in 1989, Lawrence Boland presents the results of a research project that spanned more than twenty years. He examines how economists have applied the philosophy of Karl Popper, relating methodological debates about falsifiability to wider discussions about the truth status of models in natural and social sciences. He concludes that model building in economics reflects more the methodological prescriptions of the economist Paul Samuelson than Popper’s ‘falsificationism’. This title will prove invaluable to both students and researchers, and represents a substantial contribution to debates about the scientific status of economics.
First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past thirty years can be understood as ad hoc attempts to overcome the deficiencies of such models in the absence of cogent stability analyses. In conclusion, he explains the need to update the theory taught at universities, and to develop a truly individualist version of microeconomics that is consistent with the methodological principles of major neoclassical models. An important contribution to economic methodology, this work is a highly valuable resource for all students and teachers of economics at the undergraduate level.
This updated edition of "Foundations of Economic Method" is radically changed from the original text. It positions methodology vis-a-vis the contemporary practice of economists.
First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past thirty years can be understood as ad hoc attempts to overcome the deficiencies of such models in the absence of cogent stability analyses. In conclusion, he explains the need to update the theory taught at universities, and to develop a truly individualist version of microeconomics that is consistent with the methodological principles of major neoclassical models. An important contribution to economic methodology, this work is a highly valuable resource for all students and teachers of economics at the undergraduate level.
The purpose and problems for equilibrium models -- Equilibrium models and explanation -- Equilibrium attainment vs. equilibrium necessities -- Does general equilibrium attainment imply universal maximization? -- Time and knowledge matters : general equilibrium attainment -- Equilibrium concepts and critiques : two cultures -- The limits of equilibrium models -- Recognizing knowledge in equilibrium models -- Limits of equilibrium methodology an educational dialogue -- Equilibrium models vs. realistic understanding -- Macroeconomic equilibrium model building and the stability problem -- Equilibrium models intended to overcome limits -- Equilibrium models vs. evolutionary economic models -- Equilibrium models vs. complexity economics -- Building models of price dynamics -- Building models of non-clearing markets -- Building models of learning and the equilibrium process -- Bibliography -- Names index -- Subject index
This book is about forming effective critiques of neoclassical economics. Its focus is on constructive criticism of the foundations neoclassical theory, beginning with what Alfred Marshall called the `Principles of Economics'. It concludes that there is still much that can be done to make neoclassical economics more realistic.
Many consider Foundations of Economic Method to be Lawrence Boland's best work. This updated edition is radically changed from the original and will be much appreciated by thinkers within economics. The book positions methodology vis-A-vis the current practice of economists and is all the better for it. Yet another book that not only deserves to be read by those within the field of economic methodology, but also by those involved in economics at all. Boland is back.
Model building has been the backbone of modern economic theory over the last 25 years, and the major methodological task for each model builder has been to establish the testability of each model developed. Too often, though, seemingly innocent modelling assumptions can make a model virtually impossible to test, even under ideal conditions, yet few economic theorists have examined the methodological requirements and problems of assuring testability in economics. Lawrence Boland considers how economists have applied Popper's views on the need for error-detection and testability theories in science. The methodological debates these theories have inspired are related to wider debates on empiricism and the truth status of models in the natural and social sciences. He concludes by arguing that the practice of model building in economics reflects the methodological prescriptions of Samuelson more than the falsification theory usually attributed to Popper.
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The concept of equilibrium is fundamental to economic theory, according to which, it exists when supply and demand are balanced. Equilibrium Models in Economics critically examines the major problematic assumptions employed to build equilibrium models. It gives particular attention to the assumptions used to characterize learning, knowledge and expectations.
Figuring Out the Tax recounts the forgotten early development of the federal income tax in the US, resulting from the interplay between Congress and the Treasury Department in the decades following the enactment of the tax in 1913. It covers a wide range of topics including the income tax treatments of marriage, capital losses, charitable contributions and homeownership, as well as the rise, demise and resurrection of income tax withholding. Lawrence Zelenak deftly illustrates how the income tax achieved its current form through a range of stories which are new to tax history scholarship and involve some remarkable personalities and surprising plot twists. Although of particular interest to tax academics and professionals, this book will also serve as a useful introduction to the development of income tax for undergraduate students and law students.
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Weaving his own moving family story with a sweeping history of cancer research, Lawrence Ingrassia delivers an intimate, gripping tale that sits at the intersection of memoir and medical thriller Ingrassia lost his mother, two sisters, brother, and nephew to cancer—different cancers developing at different points throughout their lives. And while highly unusual, his family is not the only one to wonder whether their heartbreak is the result of unbelievable bad luck, or if there might be another explanation. Through meticulous research and riveting storytelling, Ingrassia takes us from the 1960s—when Dr. Frederick Pei Li and Dr. Joseph Fraumeni Jr. first met, not yet knowing that they would help make a groundbreaking discovery that would affect cancer patients for decades to come—to present day, as Ingrassia and countless others continue to unpack and build upon Li and Fraumeni’s initial discoveries, and to understand what this means for their families. In the face of seemingly unbearable loss, Ingrassia holds onto hope. He urges us to “fight like Charlie,” his nephew who battled cancer his entire life starting with a rare tumor in his cheek at the age of two—and to look toward the future, as gene sequencing, screening protocols, CRISPR gene editing, and other developing technologies may continue to extend lifespans and perhaps, one day, even offer cures.
The party whips are essential components of the U.S. legislative system, responsible for marshalling party votes and keeping House and Senate party members in line. In The Whips, C. Lawrence Evans offers a comprehensive exploration of coalition building and legislative strategy in the U.S. House and Senate, ranging from the relatively bipartisan, committee-dominated chambers of the 1950s to the highly polarized congresses of the 2000s. In addition to roll call votes and personal interviews with lawmakers and staff, Evans examines the personal papers of dozens of former leaders of the House and Senate, especially former whips. These records allowed Evans to create a database of nearly 1,500 internal leadership polls on hundreds of significant bills across five decades of recent congressional history. The result is a rich and sweeping understanding of congressional party leaders at work. Since the whips provide valuable political intelligence, they are essential to understanding how coalitions are forged and deals are made on Capitol Hill.
The development of Joycean studies into a respected and very large subdiscipline of modernist studies can be traced to the work of several important scholars. Among those who did the most to document Joyce's work, Karen Lawrence can easily be considered one of that elite cadre. A retrospective of decades of work on Joyce, this collection includes published journal articles, book chapters, and selections from her best known work (all updated and revised), along with one new essay. Featuring engaging close readings of such Joyce works as Dubliners and Ulysses, it will be a welcome addition to any serious Joycean's library and will prove extremely useful to new generations of Joyce critics looking to build on Lawrence's expansive scholarship. Both readable and lively, this work may inspire a lifetime of reading, re-reading, and teaching Joyce.
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