With the failure of economics to predict the recent economic crisis, the image of economics as a rigorous mathematical science has been subjected to increasing interrogation. One explanation for this failure is that the subject took a wrong turn in its historical trajectory, becoming too mathematical. Using the philosophy of mathematics, this unique book re-examines this trajectory. Philosophy of Mathematics and Economics re-analyses the divergent rationales for mathematical economics by some of its principal architects. Yet, it is not limited to simply enhancing our understanding of how economics became an applied mathematical science. The authors also critically evaluate developments in the philosophy of mathematics to expose the inadequacy of aspects of mainstream mathematical economics, as well as exploiting the same philosophy to suggest alternative ways of rigorously formulating economic theory for our digital age. This book represents an innovative attempt to more fully understand the complexity of the interaction between developments in the philosophy of mathematics and the process of formalisation in economics. Assuming no expert knowledge in the philosophy of mathematics, this work is relevant to historians of economic thought and professional philosophers of economics. In addition, it will be of great interest to those who wish to deepen their appreciation of the economic contours of contemporary society. It is also hoped that mathematical economists will find this work informative and engaging.
Boylan and O'Gorman inject a fresh empiricist voice into the debate on economic methodology. They strike a reasonable middle ground between the extremes of scientific realism and the rhetoric of economics.
Hahn on Methodology: The Quest for Understanding addresses two fundamental questions: (i) what is distinctive about economic theorising?; (ii) what is the cognitive value of the outcome of this activity of economic theorising, i.e. economic theory. We will argue that for Hahn, economic theorising is distinctive with respect to four dimensions. Firstly, the aim of economic theory is neither to describe nor explain the real economic world, as in the physical sciences. Rather the aim is to achieve objective, but non-scientific, understanding. Secondly, the central question for economic theory remains for Hahn how to understand, but not to predict as in physics for instance, how decentralised choices interact and perhaps get co-ordinated. Thirdly, Hahn identifies ‘three commitments’ without which, he argues, economic theorising for him is not possible. Finally, economic theorising has a distinctive approach, which Hahn calls its ‘grammar of argumentation’ .
In a bitterly divided 19th century Ireland, consensus was sought in the new discipline of political economy which claimed to transcend all divisions. This book explores the failure of that mission in the wake of the great famine of 1846-7.
Based largely on archival sources in the United States and Rome, this book documents the evolution of Fordham from a small diocesan college into a major American Jesuit and Catholic university. It places the development of Fordham within the context of the massive expansion of Catholic higher education that took place in the United States in the twentieth century. This was reflected at Fordham in its transformation from a local commuter college to a predominantly residential institution that now attracts students from 48 states and 65 foreign countries to its three undergraduate schools and seven graduate and professional schools with an enrollment of more than 15,000 students. This is honest history that gives due credit to Fordham for its many academic achievements, but it also recognizes that Fordham shared the shortcomings of many Catholic colleges in the United States in the nineteenth and early twentieth centuries. There was an ongoing struggle between Jesuit faculty who wished to adhere closely to the traditional Jesuit ratio studiorum and those who recognized the need for Fordham to modernize its curriculum to meet the demands of the regional accrediting agencies. In recent decades, like virtually all American Catholic universities and colleges, the ownership of Fordham has been transferred from the Society of Jesus to a predominantly lay board of trustees. At the same time, the sharp decline in the number of Jesuit administrators and faculty has intensified the challenge of offering a first-rate education while maintaining Fordham’s Catholic and Jesuit identity. June 2016 is the 175th anniversary of the founding of Fordham University, and this comprehensive history of a beloved and renowned New York City institution of higher learning will help contribute to celebrating this momentous occasion.
With the failure of economics to predict the recent economic crisis, the image of economics as a rigorous mathematical science has been subjected to increasing interrogation. One explanation for this failure is that the subject took a wrong turn in its historical trajectory, becoming too mathematical. Using the philosophy of mathematics, this unique book re-examines this trajectory. Philosophy of Mathematics and Economics re-analyses the divergent rationales for mathematical economics by some of its principal architects. Yet, it is not limited to simply enhancing our understanding of how economics became an applied mathematical science. The authors also critically evaluate developments in the philosophy of mathematics to expose the inadequacy of aspects of mainstream mathematical economics, as well as exploiting the same philosophy to suggest alternative ways of rigorously formulating economic theory for our digital age. This book represents an innovative attempt to more fully understand the complexity of the interaction between developments in the philosophy of mathematics and the process of formalisation in economics. Assuming no expert knowledge in the philosophy of mathematics, this work is relevant to historians of economic thought and professional philosophers of economics. In addition, it will be of great interest to those who wish to deepen their appreciation of the economic contours of contemporary society. It is also hoped that mathematical economists will find this work informative and engaging.
In a bitterly divided 19th century Ireland, consensus was sought in the new discipline of political economy which claimed to transcend all divisions. This book explores the failure of that mission in the wake of the great famine of 1846-7.
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