Questions tagged [philosophy-of-economics]
90 questions
21
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9 answers
Is economics a science?
In class, I made the argument that economics is not science, because it cannot undertake repeatable experiments. Someone rebutted: this would mean that I am ignore an emerging body of work, some by prominent Nobel Prize winners, that is transforming…
Aleesha
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What are the main points of contention between Marxist and capitalist economic philosophies?
What are the main points of contention between Marxist economic philosophy and the various "pro-capitalist" economic philosophies (Labor Theory of Value, Austrian School, Libertarianism, etc.?)
Joseph Weissman
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6 answers
What are some good books on the philosophy of economics?
I'm a college student of physics, and I'm looking to expand my horizon in the field of philosophy of economics, so, what books would you recommend for newbies like me?
I was thinking in history of economics but related to philosophy and also include…
Albert o
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Why are Objectivists against Socialism?
From what I understand, Objectivism advocates rational selfishness - to put yourself before the masses, unless you don't want to - essentially to do what you want instead of blind altruism.
In the case of rich people, it would clearly make more…
dfg
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7
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5 answers
Philosophical framework for avoiding short-term strategies
In business and politics, often decision-makers make decisions that cause short-term gain, but long-term loss. So economically, this might be an unreasonable (lossy) and thus irrational process.
Is there a philosophical framework or metaphor that is…
tkruse
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Why can't (or shouldn't) economists answer normative questions?
Normative questions are those which:
affirm how things should or ought
to be, how to value them, which things are good or bad, which actions
are right or wrong. Normative is usually contrasted with positive
(i.e. descriptive, explanatory, or…
Turukawa
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7
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2 answers
Is it immoral to pay taxes if your government conducts immoral activities?
Assume your government participates in immoral wars that are unjust according to your personal beliefs and religious doctrine (for example Christian just war theory), is giving support to the government immoral in ethical terms or a sin in religious…
user1689987
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6
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6 answers
Whats the difference between fixed and constant capital?
Rosa Luxembourg in The Accumulation of Capital describes & investigates the constant and fixed capital of Marx & Smith respectively.
With Marx, she says Constant capital is the value invested in the means of production.
In Chapter 2, she…
Mozibur Ullah
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6
votes
5 answers
What responses have there been to Mises' theory of praxeology?
In his treatise Human Action, Austrian School economist Ludwig von Mises attempts to establish economics not as an empirical science, or a mathematical theory, but as a synthetic a priori endeavor he calls praxeology. Praxeology is supposed to be a…
Keshav Srinivasan
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6
votes
7 answers
Does capitalism have an end goal?
Occasionally I find that things such as "incentives" in a capitalist economy are as if they would be directed to a certain outcome or certain outcomes. E.g. that profit incentives matter only in so far the firm or the individual finds profit…
mavavilj
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Does rational choice theory stack up against reality?
Rational choice theory has been criticised on the grounds that "consumers are not rational, so doesn't make much sense because utility functions can't model consumer preferences."
But is there actual evidence on the utility of utility functions? Are…
BlackJack
6
votes
8 answers
Is it immoral to buy / own / sell stock in an evil company?
Scenario.
I have decided that I should not buy widgets from Company X because I do not want to support various immoral things Company X does to produce said widgets.
Claim. It is nonetheless morally permissible for me to buy stock in Company X, as…
user10476
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6
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5 answers
What is an example of human labour being the exclusive source of surplus value
Marx's labour theory seems to define surplus value as being produced exclusively from human labour. One discussion of this concept stated:
Machinery, and tools of production do not create surplus value; they
are a product of previous labour…
LaserJesus
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5
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2 answers
What arguments have there been on the relative merits of praxeology vs rationality?
Suppose you know what someone's goals are, and how much they value each of their goals. Then if you observe their behavior in a given situation, how can you understand why they acted the way they did?
If you ask someone in who subscribes to…
Keshav Srinivasan
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5
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What does Marxism envision as the role of the state in the economy?
According to Marx, in capitalism, what role does the state play? Is it independent of the economy? Also, does the exploitation of the proletariat by the bourgeoisie, have anything to do with the state or government?
user1577