Post Modernism'

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Theories of Economics As Non-Scientific

• Post Modernism.

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CREI Post modern economics
Economics as LANGUAGE or RHETORIC
McCloskey Economics is about ARGUMENT and
persuasion, not scientific truth
Though an argument might look more persuasive if
expressed in scientific terms
Key to understanding economics and how it changes
is the METAPHORS it uses
This is essentially a POST-MODERN view and
centres on LANGUAGE
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CREI Post modern economics
Post modern theories of language derive from
Ferdinand Saussure late 19C
Meaning derives from context, not individual
words nor correspondence between words and reality
In modern times, key work by Jean Francois
Lyotard The Post Modern Condition
Meaning depends on TEXT - ehtics is about word
games.
Against enlightenment meta narratives both
ideological and scientific
Most famous advocate Michael Foucault
Controlling text gives power
Discipline and Punish
History of Sexuality
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CREI Post modern economics
Jacques Derrida came up with the method of
DECONSTRUCTION
That is looking at text to find hidden meanings,
relating to power
Post-Modernists emphasise difference and stress
its importance
Relate here to existentialists - we can be
whatever we want.
Seen as humane and humanist in that authority is
denied for sake of difference
Thus specifically anti-racist and anti-sexist
Truth is seen as linguistic and relative
Problem how to establish truth or superiority
to anti-racism or anti sexism?
What about the physical sciences - Sokel
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CREI Post modern economics
In economics advocates are Deidre
McCloskey Arjur Klamer Richard Rorty in economic
history
Economics about advocating particular political
economic positions, not establishing truth
scientific or otherwise
Understand economics must look at use of language
perfect competition optimum equilibrium
moral hazard etc..
Economics dominates that has the most (for the
time being) persuasive case
Argument (rthetoric), not scientific truth is
what is important