As the country with the largest Muslim population in the world, Indonesia has great potential in the halal industry. However, research on symbols in Indonesia’s Islamic philosophy and economic history is still far behind that of other countries. Therefore, efforts are needed to improve its study. This research aims to describe and understand the importance of the symbol in the philosophy and history of Islamic economic practices in Indonesia. The findings of this qualitative research, conducted in Indonesia, (...) have practical implications for the halal industry and Islamic economic practices. Data was collected by conducting observations, in-depth interviews, and documentation. Data analysis is carried out by reducing data, presenting data, and giving meaning to the data that has been collected, and from that meaning, conclusions are drawn. This research has concluded that the essence of the Islamic economic process in Indonesia is an effort to fulfill the needs of the Indonesian people based on Islamic values to achieve happiness in the world and the hereafter. The Islamic economic system has become a phenomenon that is the object of the study of Islamic economic philosophy in Indonesia today. The urgency of Islamic economic philosophy in the context of Indonesian Muslim society can be found at the level of implementation. Islamic economic practices have become a way of life for the people of Indonesia. The main principle of Islamic economics holds fast to the concept of tawhid. Many things can be learned from the Islamic economy in Indonesia, ranging from the rules of legal buying and selling, lending and borrowing with legal contracts, and investment in Islam to the prohibition of usury, avoiding things that are haram, injustice, and usury. The Islamic economic system has proven to be beneficial for all people, both Muslims and non-Muslims. (shrink)

The paper starts by distinguishing between two kinds of economic practice: theoretical economic practice (TEP) (model and theory building) and direct economic practice (DEP) (the practical operation upon real economies). Most of the epistemological and philosophical considerations have been directed to the first type of practice, one of whose main goals is the discovery of particular sorts of economic laws, mechanisms and other regularities which throw light on relevant economic patterns. We do not deny that (...) in some restricted domains these kinds of regularities may be found. Rather, we claim that the realm of economics is best understood as consisting of processes whose regular structure (if they have one at all) is not guaranteed beforehand but may be crucially influenced and successfully enforced by what we call DEP. We claim that (a) some economic processes are a particular type of social process that will be referred to as Expectations-Based Processes (EBP). Characteristically, an EBP shows a connection between the information that individuals receive from the relevant economic context, the expectations they form, and the actions they perform; (b) in those cases in which EBP exhibit a regular behaviour, they depend on agents' expectations and, crucially, we argue, on interventions upon them. Authorities as well as other economic actors may intervene to change agents' expectations (and therefore, their decisions), contributing to shape EBP and helping to produce the patterns that lead to some targeted economic phenomena. These features of EBP show that they are not shielded from external influences and they do not run autonomously once triggered. Therefore they cannot be conceived as mechanisms or as economic machines. Rather they are open-ended processes that require continuous prodding on the part of policy makers to keep them running in the intended way. (shrink)

This book is unique because it is the first single-author monograph which applies Bourdieu’s theory to management studies. It takes a theory-driven approach to develop models to describe service innovation. This will give the reader a full understanding of the variety of different theoretical concepts that Bourdieu created and used and how they can be applied to the study of management and innovation. Moreover, it is also the only book that links Bourdieu’s theory to his methodological approach, providing the reader (...) with a toolkit of methods to perform business ethnographies according to Bourdieu’s approach. The book acts as a primer for anyone wanting to learn how to model an organisational system from a Bourdieusian perspective. It contains all the information someone might need to begin to go out in the field and collect data. Consequently, the people that might want to read this publication include post-graduate students looking to learn business anthropology, as well as post-doctoral and other early career researchers. (shrink)

Metz holds that we can use African communal ethics to constitute global economic practices such as appropriation, production, distribution and consumption in such a way that promotes harmonious relations. In this article, I will show that Metz’s reformist approach to constituting the global economic practices is problematic as it fails to deal with the fundamental problem that pertains to a racialised world order that is structurally configured by coloniality of being. I will show that reformist approaches (...) such as Metz’s use of African communal ethics to constitute global economic practices in a way that promotes harmonious relations are undesirable attempts that are opposed and curtailed by a structural racialised logic/ontology of the world that governs and supervises the evolution of the world economic structures and practices in a way which undermines harmonious relations and in a way which causes economic marginalisation and impoverishment of historically disadvantaged indigenous Africans. (shrink)

This chapter appeared in: G. J. van Nes et al. (eds.), Relational Anthropology for Contemporary Economics. Dordrecht: Springer, 121-132. -/- Abstract: This chapter is a comment on the contribution of Rebecca Klein in this volume, preceded by a conceptual analysis of the argument that is developed in the Homo Amans position paper. The main question that is raised is twofold and concerns the relation between science and worldview on the one hand, and between science and economic life on the (...) other. With respect to the science – worldview relationship, it is doubted that science can play the role the authors of the Homo Amans project expect it can have. What they have in mind is that science helps in validating and legitimizing a biblically informed concept of love. This author disagrees, to a large extent. Science can indeed orient itself on ideas and intuitions that are based on one’s worldview. But it cannot prove the truth of these intuitions and ideas. To think so, is to commit a naturalistic fallacy. With respect to the relationship between science and economic life, the author is also not convinced that science and philosophy as academic disciplines will by themselves be able (and should be expected to be able) to transform deeply ingrained, institutionally anchored economic practices. New theories, concepts, and paradigms are a precondition for change, but they do not bring about change by themselves. What is needed is a change in the practices themselves, a change that is both personal and comprehensive. What is needed is a clear, succinct, and encompassing view on the intrinsic normativity of economic interactions between relevant stakeholders in what we call ‘the’ economy. This is a huge undertaking, that requires painstaking ‘phenomenological’ analyses of a wide variety of economic practices. The chapter agrees with most of Klein’s observations and concerns with respect to the position paper. These observations and concerns gain even more depth and relief given the conceptual distinctions that are made in the chapter. (shrink)

Written by four recognized experts with senior experience in research and government, this text is the first comprehensive survival kit for students and practitioners of economic policy. It is set to become an indispensable resource for everyone involved or interested in modern economic policy. Academic scholars willing to engage in policy discussions and students at graduate or advanced undergraduate levels will find it an essential bridge to the policy world. What makes the book unique is that it combines (...) like no other, facts-based analysis, state-of-the art theories and models, and insights from first-hand policy experience at national and international levels. The book has grown out of ten years of experience teaching economic policy at the graduate level. It provides an intellectually coherent framework to understand the potentialities and limits of economic policy. It addresses positive dimensions, normative dimensions and political-economy constraints. It fills an important gap by reconciling in each major policy area stylized facts of recent economic history, key questions faced by contemporary policymakers, and essential lessons from theory which are captured and explained in a clear, concise, and self-contained way. All major areas of domestic and international policymaking are covered: fiscal policy, monetary policy, international finance and exchange-rate policy, tax policy, and long-term growth policies. The book concludes with a special chapter on the lessons of the financial crisis. The authors are intellectually non-partisan and they draw examples from various countries and experiences; from emerging markets to developing economies, shedding light when necessary on local specificities such as European Union rules and instruments. Economic Policy: Theory and Practice is the essential guide to economic policy in the new post-crisis context. (shrink)

This target article is concerned with the implications of the surprisingly different experimental practices in economics and in areas of psychology relevant to both economists and psychologists, such as behavioral decision making. We consider four features of experimentation in economics, namely, script enactment, repeated trials, performance-based monetary payments, and the proscription against deception, and compare them to experimental practices in psychology, primarily in the area of behavioral decision making. Whereas economists bring a precisely defined “script” to experiments for (...) participants to enact, psychologists often do not provide such a script, leaving participants to infer what choices the situation affords. By often using repeated experimental trials, economists allow participants to learn about the task and the environment; psychologists typically do not. Economists generally pay participants on the basis of clearly defined performance criteria; psychologists usually pay a flat fee or grant a fixed amount of course credit. Economists virtually never deceive participants; psychologists, especially in some areas of inquiry, often do. We argue that experimental standards in economics are regulatory in that they allow for little variation between the experimental practices of individual researchers. The experimental standards in psychology, by contrast, are comparatively laissez-faire. We believe that the wider range of experimental practices in psychology reflects a lack of procedural regularity that may contribute to the variability of empirical findings in the research fields under consideration. We conclude with a call for more research on the consequences of methodological preferences, such as the use on monetary payments, and propose a “do-it-both-ways” rule regarding the enactment of scripts, repetition of trials, and performance-based monetary payments. We also argue, on pragmatic grounds, that the default practice should be not to deceive participants. Key Words: behavioral decision making; cognitive illusions; deception; experimental design; experimental economics; experimental practices; financial incentives; learning; role playing. (shrink)

Economic models, like scientific paradigms, predispose actors towards certain patterns of behavior or practices. Over time these become accepted as normal practice which everybody is expected to observe or to follow. This is how theoretical orthodoxies are established. However, even orthodoxies rely on refinement of techniques. In economics this is widely recognized, as it guarantees competitiveness among various practitioners. The context within which this occurs is often taken for granted since it is implicit in given theoretical models. For (...) instance, in development theory it is assumed that the prevailing Euro-American economic model is universally valid. It is more than likely that this itself has become a social value which the West wants to maintain. Consequently, as a scientific proposition, it cannot be clarified since the West uses its political and military power to guarantee the necessary conditions for the reproduction of the same globally. Insofar as this is true, it is only reasonable to grant the fact that economic models inevitably carry with them unacknowledged normative presuppositions. This is best illustrated by the fierce ideological battle that occurred between the so-called socialist and “free market” adherents during the cold war. (shrink)

This book shows that global population ageing is an opportunity to improve the quality of human life rather than a threat to economic competitiveness and stability. It describes the concept of the creative ageing policy as a mix of the silver economy, the creative economy, and the social and solidarity economy for older people. The second volume of Economic Foundations for Creative Ageing Policy focuses on the public policy and management concepts related to the use of the opportunities (...) that are created by population ageing. Klimczuk covers theoretical analyses and case study descriptions of good practices to suggest strategies that could be internationally popularized. Each chapter includes exercises and assignments for both students and those who are likely to apply the presented concepts in practice. Contents: Foreword by Richard Adler Foreword by Dominic Campbell Introduction 1 The Politics of Ageing and the Challenges of Ageing Populations 2 Understanding Public Policy on Ageing 3 Sociological and Gerontological Perspectives on Ageing, Creativity, and the Third Age 4 Diversity of Ageing Policy Concepts 5 The Emergence of the Creative Ageing Movement 6 Aims and Challenges of the Creative Ageing Policy 7 Principles, Governance, and Coproduction of the Creative Ageing Policy 8 Organizational Forms and Management for the Building of Creative Capital of Older People Conclusion Afterword by Andreas Hoff and Kurt Lüscher Afterword by Suchandrima Chakraborty Afterword by Jorge Felix. (shrink)

The purpose of this article is to present in a summarized form a new approach to the ethical analysis of economic policies and to illustrate its importance with a reference to recent experiences of social dialogue in Costa Rica.A general view of the Latin American scenario is presented, with the belief that some of the main problems there observed call for a type of analysis like the one here proposed. In the second place, a brief characterization of this new (...) ethical analysis is included. (shrink)

This book concentrates upon how economic rationalities have been embedded into particular historical practices, cultures, and moral systems. Through multiple case-studies, situated in different historical contexts of the modern West, the book shows that the development of economic rationalities takes place in the meeting with other regimes of thought, values, and moral discourses. The book offers new and refreshing insights, ranging from the development of early economic thinking to economic aspects and concepts in the works (...) of classical thinkers such as Thomas Hobbes, John Locke and Karl Marx, to the role of economic reasoning in contemporary policies of art and health care. With economic rationalities as the read thread, the reader is offered a unique chance of historical self-awareness and recollection of how economic rationality became the powerful ideological and moral force that it is today. (shrink)

This article explains how Pope Francis’s economic views are both radical and practical. His views are practical in the sense that they are sensitive to social realities, not theoretical abstractions; and they are radical in the sense that they undermine traditional economic ideologies. To demonstrate these points, I show how Francis’s pronouncements are consistent with “economic democracy.” In economic democracy efforts are made to create a more equal dispersal of capital assets and the economy is more (...) squarely oriented around fundamental human ends, including the common good, human dignity, equality and opportunity, meaningful work, ecological responsibility, and solidarity. (shrink)

Although the terminology of Big Data has so far gained little traction in economics, the availability of unprecedentedly rich datasets and the need for new approaches – both epistemological and computational – to deal with them is an emerging issue for the discipline. Using interviews conducted with a cross-section of economists, this paper examines perspectives on Big Data across the discipline, the new types of data being used by researchers on economic issues, and the range of responses to this (...) opportunity amongst economists. First, we outline the areas in which it is being used, including the prediction and ‘nowcasting’ of economic trends; mapping and predicting influence in the context of marketing; and acting as a cheaper or more accurate substitute for existing types of data such as censuses or labour market data. We then analyse the broader current and potential contributions of Big Data to economics, such as the ways in which econometric methodology is being used to shed light on questions beyond economics, how Big Data is improving or changing economic models, and the kinds of collaborations arising around Big Data between economists and other disciplines. (shrink)

This paper points to some limitations of law and economics as both an explanative and a normative theory. In explaining law as the result of efficiency promoting decisions, law and economics theorists often dismiss the reasons actors in the legal system give for their behavior. Recognizing that sometimes actors may be unaware of why institutions evolve as they do, I argue that the case for dismissing reasons for action is weaker when those reasons make reference to rules of practices (...) that constitute the meaning of actions within those practices, or when they have otherwise been given well-considered defenses. In criticizing law and economics as a normative theory, I acknowledge that economic considerations are often important in deciding how to act in the personal sphere and how government should allocate its scarce resources. I argue that while the use of institutions to promote our ideals forces us to take their costs into account, it is a mistake to infer from this that the question of determining social policy is a purely economic problem, and that we should acknowledge the non-utilitarian moral ideals our law and practices promote. This is the basis of both an internal criticism--law and economics theorists have not sufficiently evaluated and weighed the value of fairness and other ideals in their utility calculations--and an external criticism-- these ideals are important in ways that can not be measured in utiles. (shrink)

In this paper I argue that problems connected to good scientific practice and scientific misconduct can be fruitfully analyzed via the means of transaction costs economics. Thus, transaction costs economics is a valuable tool for the descriptive as well as normative analysis of science. I further argue that current institutional matrices impose high transaction costs on (potential) funding agencies of scientific research. This underlies many cases of bad practice in scientific research. Lowering these transaction costs would have positive effects both (...) on the adherence of researchers to the rules of good practice as well as for the amount of funding that is spend on research. In the end, I propose an institutional reform that promises to lower these transaction costs based upon an idea of Michael Rosenblatt. (shrink)

Research Ethics in Applied Economics Emphasizing the new challenges posed by the data science revolution, digital media, and changing standards, Research Ethics in Applied Economics examines the ethical issues faced by the applied economics researcher at each stage of the research process. The first section of the book considers project development, including issues of project management, selection bias in asking research questions, and political incentives in the development and funding of research ideas. The second section addresses data collection and analysis, (...) discussing concerns about participant rights, data falsification, data management, specification search, p-hacking, and replicability. The final section focuses on sharing results with academic audiences and beyond, with an emphasis on self-plagiarism, self-promotion, and the importance of achieving policy impact. The discussion and related recommendations highlight emergent issues in research ethics. Featuring case studies from experienced researchers on how they address ethical issues, this book provides practical guidance to both students and experienced practitioners seeking to navigate ethical issues in their applied economics research. (shrink)

The purpose of this article is to present in a summarized form a new approach to the ethical analysis of economic policies and to illustrate its importance with a reference to recent experiences of social dialogue in Costa Rica. A general view of the Latin American scenario is presented, with the belief that some of the main problems there observed call for a type of analysis like the one here proposed. In the second place, a brief characterization of this (...) new ethical analysis is included. Democracy suffers from the existence of asymmetries in social and economic relationships, insofar as the success of political democracy cannot be neither understood nor built up independently from economic democracy. The strengthening of democratic processes in Latin America requires a better understanding and consolidation of the relationship between political democracy and economic democracy. On the other hand, present orientation of globalization makes of the international environment an obstacle to realize democracy at a national level. Hence, two focus of interest arise for the ethical analysis of economics at the macroeconomic level: the study of the ethical conditions of participation for each country in the globalization process, and the realization of an economic democracy within each particular country. After identifying both lines of reflection, this article summarizes the theoretical basis of a proposal for the ethical analysis of economic policy making. This approach attempts to answer the challenges of economic democratization. Centered on the ethical dimension of these processes, and from the point of view of a dialogical ethics, stress is given to those aspects of the process which will guarantee the ethical character of the consequences. This is a methodological approach which tries to discover the ethical values feasible within the economic policies and, at the same time, to go in greater depth in the construction of democratic practices. Rooted in the Latin American regional reality, this academic reflection is just in its beginning and must be considered as complementary to the business ethics analysis already developed in Latin America and Spain. A reference to recent experiences of social dialogue in Costa Rica gives the theoretical presentation a support for the acceptance of its realization in practice. (shrink)

It proposed that certain types of human resource (HR) practices can be both normatively rooted and also instrumental in achieving economic goals. Specifically,managers may perceive organizational justice HR practices and work-family conflict HR practices as a legitimate response to these seemingly conflicting interests. Legitimacy evaluations of HR practices by managers are also likely to impact managerial perceptions of organizational reputation.

Feminist scholars challenge ahistorical conceptions of the patriarchal state and emphasize the importance of power struggles across class, race, and gender lines in transforming state gender policies. They also unintentionally downplay the ideological power struggles among race- and class-homogeneous patriarchal institutions, especially in relatively monolithic political contexts with little or no independent feminist movement. Our historical case study of the transformations of Polish abortion laws and selected economic policies geared toward women explores how these changing policies were used in, (...) and shaped by, the ideological power struggles between two homogeneous, powerful, male-dominated institutions: the Communist Party and the Catholic Church. We argue that one cannot understand patriarchal state practices without considering the ideological power struggles between patriarchal institutions in homogeneous social contexts as well as in those of a more heterogeneous nature. (shrink)

The Anthropocene is characterized by multiple crises associated with the infinite accumulation of growth on a planet of finite resources. Productive labour and the 8-h working model contribute to this contradiction. We argue for the reduction of productive labour in favour of reproductive labour accumulated through practices of collective care. The latter can heal the damage capital accumulation produces. Collective care brings into light various social practices often invisible to production, allows for a new understanding of nonhuman agency, (...) and challenges the dominant ethical disposition around work. We advocate for a new power equilibrium between productive and reproductive labour. (shrink)

In this paper, I discuss how a Working group on ethics dealt with the question whether the collapse of the Icelandic banks and related financial setbacks can to some extent be explained by morality and work practice. I describe how the Working group delineated its subject matter by evaluating practice in the financial sector, the administration, the political sector and the social or cultural sector. I demonstrate the approach used by the Working group by discussing some important examples which throw (...) light on some aspects of its manifold analyses. The examples show how different aspects of morality are of importance in an analysis of the events that took place. (shrink)

The book examines the relation of individual freedom to the economic arrangements of society. It explores both the theory and practice of the competing paradigms of capitalism and socialism, as well as the moral frameworks—justice and social justice—correlative to them.

Reflection without Rules offers a comprehensive, pointed exploration of the methodological tradition in economics and the breakdown of the received view within the philosophy of science. Professor Hands investigates economists' use of naturalistic and sociological paradigms to model economic phenomena and assesses the roles of pragmatism, discourse, and situatedness in discussions of economic practice before turning to a systematic exploration of more recent developments in economic methodology. The treatment emphasizes the changes taking place in science theory and (...) its relationship to the movement away from a rules-based view of economic methodology. The work will be of interest to all economists concerned with methodological issues as well as philosophers and others studying the relationships between economics and contemporary science theory. (shrink)

There is an increasingly widespread belief, both within and outside the discipline, that modern economics is irrelevant to the understanding of the real world. Economics and Reality traces this irrelevance to the failure of economists to match their methods with their subject, showing that formal, mathematical models are unsuitable to the social realities economists purport to address. Tony Lawson examines the various ways in which mainstream economics is rooted in positivist philosophy and examines the problems this causes. It focuses on (...) human agency, social structure and their interaction and explores how the understanding of this social phenomena can be used to transform the nature of economic practice. Economics and Reality concludes by showing how this newly transformed economics might set about shaping economic policy. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:154, DAVID HUME'S PRACTICAL ECONOMICS As Professor Eugene Rotwein emphasized in his introduction to David Hume: Writings on Economics (Madison, 1955), the philosopher made his observations on the eve of the industrial revolution in a period of accelerating change. Very often — as in the latter half of the seventeenth century — times of flux and turmoil call forth Utopian thinkers, who propose the creation of hierarchical, communal, authoritarian (...) societies, often patterned after a supposed golden 2 age. Hume emphatically rejected Utopian schemes of this kind. "All plans of government which suppose great reformation in the manners of mankind," he said, 3 "are plainly imaginary." He repeatedly warned as well that "projectors" and visionaries would disrupt the balance in government between liberty and authority. Thus he could speak of or make reference to "the visionary system or ravings of Plato" (in The Republic), the ultimate impracticality of More's Utopia and James Harrington's The Commonwealth of Oceana, and the absurdity of Robert Wallace's theories on 4 population and the paper money schemes of John Law. Even the Utopian republics of Andrew Fletcher of Saltoun, the Scottish patriot whom Hume admired as "a man of undaunted courage and inflexible principles," were dismissed with the others on practical grounds. The key word we have extracted from Hume's economics is practicality. Much as Hume would have liked to have designed an empirical "science of man" — which, incidentally, would have permitted him to propose his own infallible scheme of political economy — he realized that his own attempts had fallen far short of his goal. Thus his nine essays devoted especially to economics: "Of Commerce," "Of Refinement 155. in the Arts," "Of Money," "Of Interest," "Of the Balance of Trade," "Of the Jealousy of Trade," "Of Taxes," "Of Public Credit," and "Of the Populousness of Ancient Nations," are cautious in approach and pragmatic in spirit. Most of these essays were specifically designed to challenge prevailing assumptions and Utopian grand schemes of one sort or another. In "Of Commerce," for example, Hume rejects the idea that a nation can achieve greatness as an agricultural utopia. In "Of Refinement in the Arts" he takes issue with certain religious thinkers who 7 denote luxury as evil. In "Of Money" he is critical of those who believe that an injection of money into O the economy will work long-term wonders, and in "Of Interest" he argues with those who reason that the 9 plenty of money leads to low interest rates. "Of the Balance of Trade" and "Of the Jealousy of Trade" are directed against the protectionist policies of the mercantilists, "Of Taxes" rejects the French physiocratic single tax on land, and "Of Public Credit" deplores the expedients of Lord Oxford's partisans to draw bills on posterity and imprudently 12 use public credit to create paper riches. Finally, he addressed his essay, "Of the Populousness of Ancient Nations" to a refutation of the doomsday thinking of 13 the Reverend Robert Wallace of Edinburgh. This is not to imply, however, that Hume's economic thought was merely negative, or that he believed governments could safely entrust their powers over the economy to an "invisible hand." Even Hume's advocacy of free trade (which his friend and pupil Adam Smith, of course, applied with less caution) left the government with room to maneuver. Hume was willing to employ both the market and authority in designs for human progress. In seeking his mix of "action, 156. consumption, liveliness and indolence," a contradictory, counter-poised economic actor, the individual, was not a simple pleasure maximizer, nor did the acquisition of wealth and luxury make him a villain. He was a person in whom the complex springs of action, the causes of labour, needed first one, now another counter-weight. Society benefited from both 14 free trade and from tariff. Hume believed that industrial development and the advancement of commerce were the springboards to progress and happiness. Less is less and more is more; Hume never got these simple verities mixed up. "The same age," he said, "which produces great philosophers and politicians, renowned generals and poets, usually abounds with skillful weavers, and ship-carpenters.... The spirit of the age... (shrink)

Drawing on managerial discretion and conflicting institutional logics literature, this study investigates the relation between the personal sustainability behaviors of owner–managers and the corporate sustainability practices of SMEs. The research proposes a contingency model that assesses the moderating effects of perceived economic advantages and environmental hostility on this relationship. Based on linear hierarchical multiple regression analyses of a cross-sectoral sample of French SMEs, the results suggest a positive influence of the manager's PSB on the SME's CS practices (...) that appears to be differently moderated depending on the type of practice considered. The influence on environmental practices is fostered through the perception of economic advantages. The influence on workplace practices is only effective when the business environment is deemed benign and the influence on community practices is dampened by the perception of environmental hostility. Highlighting the trade-off between the manager's personal values and the SME's economic constraints, these findings contribute to a better understanding of the critical antecedents of sustainability in small businesses. (shrink)

This paper examines two recent approaches to the nature and functioning of economic models: models as isolating representations and models as credible constructions. The isolationist view conceives of economic models as surrogate systems that isolate some of the causal mechanisms or tendencies of their respective target systems, while the constructionist approach treats them rather like pure constructions or fictional entities that nevertheless license different kinds of inferences. I will argue that whereas the isolationist view is still tied to (...) the representationalist understanding of models that takes the model-target dyad as the basic unit of analysis, the constructionist perspective can better accommodate the way we actually acquire knowledge through them. Using the example of Tobin’s ultra-Keynesian model I will show how many of the epistemic characteristics of modelling tend to go unrecognised if too much focus is placed on the model-target dyad. (shrink)

Economists and other social scientists in this century have often supported economic arguments by referring to positions taken by philosophers of science. This important new book looks at the reliability of this practice and, in the process, provides economists, social scientists, and historians with the necessary background to discuss methodological matters with authority. Redman first presents an accurate, critical, yet neutral survey of the modern philosophy of science from the Vienna Circle to the present, focusing particularly on logical positivism, (...) sociological explanations of science (Polanyi, Fleck, Kuhn), the Popper family, and the history of science. She then deals with economic methodology in the twentieth century, looking at a wide range of methodological positions, especially those supported by positions from the philosophy of science. She considers the myth of the feasibility of falsification in economics and, within the context of its significance for economics, discusses the interpretation of Kuhn's philosophy of science as consensus and the danger such a view represents to science. Appendices review the history of the is-ought dispute and list economists whose first works deal with methodological topics. Comprehensive, readable, and accessible to those with little background knowledge, Redman's book will appeal to a wide range of social scientists and philosophers of science. (shrink)

The purpose of this qualitative case study was to gain an in-depth understanding of how three award-winning secondary economics teachers demonstrated their pedagogical content knowledge (PCK), specifically horizon content knowledge, specialized content knowledge, knowledge of content and teaching, and knowledge of content and students. The teachers consistently connected economic content to other grades, subjects, and economic concepts and skills. Economic content was also regularly used to prepare students for citizenship, including casting more informed votes and understanding current (...) events. However, authentic discussions, including ones about controversial issues, were mostly lacking. An emphasis was placed on developing students’ economic reasoning skills, including real-world applications of the economic way of thinking and decision-making models. Additionally, active learning instructional practices were frequently incorporated, and economic content was almost always related to students’ interests and experiences. A detailed description of a first step toward a practice-based theory of PCK in secondary economics concludes the article. (shrink)

This study examined individual difference characteristics as predictors of business students’ attitudes toward sustainable business practices. Three types of predictors were considered: personal values, individualism–collectivism, and leadership styles. Data were collected from 248 business students attending a mid-sized university in western United States using self-reported questionnaires. Few gender differences were present. Hierarchical regression analyses, controlling for personal demographic characteristics, indicated that business students scoring higher on Rokeach’s social value scale, collectivism, and transformational leadership also reported more positive attitudes toward (...) sustainable business practices. Implications for research and practice are discussed. (shrink)

At least since Athenian trade sanctions helped to spark the Peloponnesian War, economic coercion has been a prominent tool of foreign policy. In the modern era, sovereign states and multilateral institutions have imposed economic sanctions on dictatorial regimes or would-be nuclear powers as an alternative to waging war. They have conditioned offers of aid, loans, and debt relief on recipients’ willingness to implement market and governance reforms. Such methods interfere in freedom of trade and the internal affairs of (...) sovereign states, yet are widely used as a means to advance human rights. But are they morally justifiable? -/- Drawing on human rights theories, theories of justifiable harm, and examples such as IMF lending practices and international sanctions on Russia and North Korea, Fabre offers a defense of economic statecraft in some of its guises. An empirically attuned work of philosophy, Economic Statecraft lays out a normative framework for an important tool of diplomacy. (shrink)