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Deductive Irrationality: A Commonsense Critique of Economic Rationalism

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Synopses & Reviews

Publisher Comments:

Deductive Irrationality examines and critiques economic rationalism from the perspective of political philosophy. The essays in this collection analyze not only the work of founders of the discipline of economics, but also political philosophers influential in this founding and select contributors of seminal theories in modern economic thought namely, Thomas Hobbes, John Locke, Adam Smith, Alfred Marshall, John Maynard Keynes, Friedrich Hayek, Gunnar Myrdal, Robert E. Lucas Jr., and John F. Muth. The main theme linking all of the essays together is that economics is a product of modern rationalism and shares with that rationalism the belief that the only real knowledge is scientific knowledge. Derived from a scientific method modeled on mathematics, this method gives both modern political science and modern economics their abstract character. Adam Smith's contribution to Western thought was more than mere economics; his innovations and his variance from previous thinkers follows Machiavelli in finding human nature in the realistic conception of examining men as how they are, rather than the classical view that we should look to the idea of man's formal excellence. To Smith, humanity emerges from a desire for self-preservation, where every worker competes to exchange the fruits of their labor with that of others. The result is a gap between the world of common sense and the world of theory that practitioners in both fields no longer truly understand. By adopting the perspective of political philosophy, the contributors take an approach that is alien to most economists, and in doing so address many of the currents and tensions that underlie modern economic theory and, by implication, the rational choice theory in political science.

Book News Annotation:

Seven Australian academics and independent scholars contribute eight chapters examining economics from a political philosophy perspective. The authors advance the work of Joseph Cropsey to the next step by analyzing not only the work of the founders of the discipline but also seminal contributors to modern economic thought including Thomas Hobbes, John Locke, Adam Smith, Alfred Marshall, John Maynard Keynes, Friedrich Hayek, Gunnar Myrdal, Robert E. Lucas Jr., and John F. Muth. The essays address many of the currents and tension underlying modern economic theory, and by implication, the rational choice theory in political science. For students and scholars of economics and political theory. Annotation ©2008 Book News, Inc., Portland, OR (booknews.com)

Synopsis:

Deductive Irrationality examines and critiques economic rationalism by assessing the work of influential political philosophers and economic theorists such as Thomas Hobbes, John Locke, Adam Smith, Friedrich Hayek, Gunnar Myrdal, and John F. Muth. It is one of the first serious attempts to investigate the dominant sub-fields in economic theory through the lens of political philosophy.

Product Details

ISBN:
9780739116258
Author:
Mccarthy, Stephen
Publisher:
Lexington Books
Editor:
Kehl, David
Editor:
McCarthy, Stephen
Contributor:
McCarthy, Stephen
Author:
McCarthy, Stephen
Subject:
Political science
Subject:
Economics
Subject:
Economics - General
Subject:
Political
Subject:
Economics -- Political aspects.
Subject:
Political science -- Methodology.
Publication Date:
20080531
Binding:
TRADE PAPER
Language:
English
Pages:
284
Dimensions:
8.92x6.07x.83 in. .97 lbs.

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Related Subjects

History and Social Science » Economics » General
Humanities » Philosophy » General
Religion » Eastern Religions » Philosophy General

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Product details 284 pages Lexington Books - English 9780739116258 Reviews:
"Synopsis" by , Deductive Irrationality examines and critiques economic rationalism by assessing the work of influential political philosophers and economic theorists such as Thomas Hobbes, John Locke, Adam Smith, Friedrich Hayek, Gunnar Myrdal, and John F. Muth. It is one of the first serious attempts to investigate the dominant sub-fields in economic theory through the lens of political philosophy.
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