chapter  1
16 Pages

Economics of knowledge: old and new

ROBERT F. GARNETT, JR
ByOld and new Robert F. Garnett, Jr

This volume is in many ways a sequel to Deirdre McCloskey’s reflexive critique of economists’ philosophical absolutism (McCloskey 1985, 1990, 1994). McCloskey challenges her fellow economists to repair the poor fit between their liberal economics (pluralism, openness, free markets) and their generally illiberal meta-economics (Science, Truth, Method). No one Scientific Method ever guides economic research anyway, McCloskey argues. And none is needed.