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Philosophy and economics

About: Philosophy and economics is a(n) research topic. Over the lifetime, 3593 publication(s) have been published within this topic receiving 90008 citation(s). The topic is also known as: Philosophy of economics. more


Open accessBook
01 Jan 1920-
Abstract: The Economics of Welfare occupies a privileged position in economics. It contributed to the professionalization of economics, a goal aggressively and effectively pursued by Pigou's predecessor and teacher Alfred Marshall. The Economics of Welfare also may be credited with establishing welfare economics, by systematically analyzing market departures and their potential remedies. In writing The Economics of Welfare, Pigou built a bridge between the old and the new economics at Cambridge and in Britain. Much of the book remains relevant for contemporary economics. The list of his analyses that continues to play an important role in economics is impressive. Some of the more important include: public goods and externalities, welfare criteria, index number problems, price discrimination, the theory of the firm, the structure of relief programs for the poor, and public finance. Pigou's discussion of the institutional structure governing labor-market operations in his Wealth and Welfare prompted Schumpeter to call the work "the greatest venture in labor economics ever undertaken by a man who was primarily a theorist." The Economics of Welfare established welfare economics as a field of study. The first part analyzes the relationship between the national dividend and economic and total welfare. Parts II and III link the size of the dividend to the allocation of resources in the economy and the institutional structure governing labor-market operations. Part IV explores the relationship between the national dividend and its distribution. In her new introduction, Nahid Aslanbeigui discusses the life of Pigou and the history of The Economics of Welfare. She also discusses Pigou's theories as expressed in this volume and some of the criticisms those theories have met as well as the impact of those criticisms. The Economics of Welfare is a classic that repays careful study. more

Topics: Applied economics (68%), Schools of economic thought (67%), Mainstream economics (66%) more

5,141 Citations

Journal ArticleDOI: 10.2307/2956141

3,174 Citations

Open accessBook
01 Jan 1987-
Abstract: Foreword: John M. Letiche. Preface. 1. Economic Behaviour and Moral Sentiments. Two Origins. Achievements and Weakness. Economic Behaviour and Rationality. Rationality as Consistency. Self-interest and Rational Behaviour. Adam Smith and Self-interest. 2. Economic Judgements and Moral Philosophy. Interpersonal Comparisons of Utility. Pareto Optimality and Economic Efficiency. Utility, Pareto Optimality and Welfarism. Well-being and Agency. Valuing and Value. Agency and Well-being: Distinction and Interdependence. Utility and Well-being. Achievements, Freedom and Rights. Self-interest and Welfare Economics. Rights and Freedom. 3. Freedom and Consequences. Well-being, Agency and Freedom. Plurality and Evaluation. Incompletenes and Overcompleteness. Conflicts and Impasse. Rights and Consequence. Consequential Assessment and Deontology. Ethics and Economics. Welfare, Goals and Choices. Conduct, Ethics and Economics. References. Author Index. Subject Index. more

Topics: Philosophy and economics (62%), Welfarism (60%), Economic methodology (59%) more

1,624 Citations

Journal ArticleDOI: 10.2307/2231434
Friedrich A. von Hayek1Institutions (1)
Abstract: Following on F. A. Hayek's previous work Studies in Philosophy, Politics, and Economics (1967), New Studies in Philosophy, Politics, Economics and the History of Ideas collects some of Hayek's most notable essays and lectures dealing with problems of philosophy, politics and economics, with many of the essays falling into more than one of these categories. Expanding upon the previous volume the present work also includes a fourth part collecting a series of Hayek's writings under the heading 'History of Ideas.' Of the articles contained in this volume the lectures on 'The Errors of Constructivism' (chapter 1) and 'Competition as a Discovery Procedure' (chapter 12) have been published before only in German, while the article on 'Liberalism' (chapter 9) was written in English to be published in an Italian translation in the Enciclopedia del Novicento by the Istituto della Enciclopedia Italiana at Rome. more

Topics: Intellectual history (59%), Philosophy and economics (59%), Philosophy education (57%) more

1,242 Citations

Journal ArticleDOI: 10.2307/2224835
Nicholas Kaldor1Institutions (1)
Abstract: Nicholas Kaldor (1908–1986) was born in Budapest and educated in Budapest, Berlin, and at the London School of Economics. In addition to an academic career, which was centered at Cambridge University, Kaldor served as an advisor to several governments and was instrumental in devising the value added tax (VAT). In this brief essay, originally published in 1939, he argues that the net benefit of a policy – the amount that “winners” would be willing to pay minus the amount that “losers” would need to be compensated – provides a measure of the capacity of an economy to satisfy preferences that does not require interpersonal comparisons or any judgment concerning the justice of different distributions. In a separate essay published in the same year, John Hicks defends the same idea, and assessment of alternatives in terms of net benefits is often called “the Kaldor-Hicks efficiency criterion.” In the December 1938 issue of the E conomic J ournal Professor Robbins returns to the question of the status of interpersonal comparisons of utility. It is not the purpose of this note to question Professor Robbins' view regarding the scientific status of such comparisons; with this the present writer is in entire agreement. Its purpose is rather to examine the relevance of this whole question to what is commonly called “welfare economics.” In previous discussions of this problem it has been rather too readily assumed, on both sides, that the scientific justification of such comparisons determines whether “economics as a science can say anything by way of prescription.” more

Topics: Schools of economic thought (55%), Philosophy and economics (53%), Economic Justice (53%) more

1,099 Citations

No. of papers in the topic in previous years

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Topic's top 5 most impactful authors

Daniel M. Hausman

22 papers, 2.3K citations

John B. Davis

13 papers, 127 citations

David Colander

11 papers, 870 citations

D. Wade Hands

10 papers, 160 citations

Mark Blaug

9 papers, 1.8K citations

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