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An Assessment of the Scientific Standing of Economics

Published online by Cambridge University Press:  31 January 2023

Margaret Schabas
Margaret Schabas*
Affiliation:
Department of Philosophy, University of Colorado, Boulder
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Extract

In his paper on the “Methodology of Positive Economics”, Milton Friedman warned his readers that, “more than other scientists, social scientists need to be self-conscious about their methodology.” (1953, p. 34). But until quite recently, he seems either to have spoken to deaf ears or, more plausibly, to have been so successful in promoting his own views on methodology as to lead economists to be complacent about the many problems which plague their discipline. Many current textbooks, for example the one by Eugene Silberberg, present economics as a science attaining the falsificationist standards once set down by Karl Popper, despite much evidence to the contrary. Indeed, as Douglas W. Hands (1985) has recently shown, even Sir Karl did not intend economics to be subjected to such severe standards.

Type
Part V. Social Science
Information
PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association , Volume 1986 , Issue 1: Volume One: Contributed Papers 1986 , 1986 , pp. 298 - 306
Copyright
Copyright © Philosophy of Science Association 1986

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