[Selections by Humberto Barreto for SHOE list.]
nep-hpe <https://nep.repec.org/nep-hpe.html> New Economics Papers
<https://nep.repec.org/> on History and Philosophy of Economics
Issue of 2024‒02‒05
papers chosen by
Erik Thomson <http://econpapers.repec.org/RAS/pth72.htm>,
University of Manitoba <http://umanitoba.ca/>
------------------------------
1. Deep Causality and Counterfactuals for Scientific Explanation and
Ethically Efficacious Economics and Social Sciences: How can the social
sciences help make policies for advancing the common good?
<https://mail.google.com/mail/u/0/#m_-1649024073226411413_p1> By Khan,
Haider <http://econpapers.repec.org/scripts/search.pf?aus=Khan,%20Haider>
2. Precis of the objects of credence
<https://mail.google.com/mail/u/0/#m_-1649024073226411413_p2> By Mahtani,
Anna <http://econpapers.repec.org/scripts/search.pf?aus=Mahtani,%20Anna>
3. Graziani’s circuit scheme. A methodological exploration
<https://mail.google.com/mail/u/0/#m_-1649024073226411413_p3> By Baron,
Hervé
<http://econpapers.repec.org/scripts/search.pf?aus=Baron,%20Herv%C3%A9>
4. Ends versus Means: Kantians, Utilitarians, and Moral Decisions
<https://mail.google.com/mail/u/0/#m_-1649024073226411413_p4> By Roland
Bénabou
<http://econpapers.repec.org/scripts/search.pf?aus=Roland%20B%C3%A9nabou>
; Armin Falk
<http://econpapers.repec.org/scripts/search.pf?aus=Armin%20Falk>; Luca
Henkel <http://econpapers.repec.org/scripts/search.pf?aus=Luca%20Henkel>
5. Sir David Hendry: An Appreciation from Wall Street with Autometrics
Applications
<https://mail.google.com/mail/u/0/#m_-1649024073226411413_p5> By John B.
Guerard
<http://econpapers.repec.org/scripts/search.pf?aus=John%20B.%20Guerard>
6. The Hilton Young mission of ‘money doctors’ from Britain to Poland,
1923 – 1924 <https://mail.google.com/mail/u/0/#m_-1649024073226411413_p6>
By William A. Allen
<http://econpapers.repec.org/scripts/search.pf?aus=William%20A.%20Allen>
------------------------------
1. Deep Causality and Counterfactuals for Scientific Explanation and
Ethically Efficacious Economics and Social Sciences: How can the social
sciences help make policies for advancing the common good?
<http://econpapers.repec.org/RePEc:pra:mprapa:119641>
By: Khan, Haider
<http://econpapers.repec.org/scripts/search.pf?aus=Khan,%20Haider>
Abstract: What does a causal explanation deliver in any science, but
particularly in the social sciences? How are relatively deeper scientific
explanations to be distinguished from superficial or shallower ones?
Furthermore, what roles can counterfactual analysis play in social sciences
and policy making? For a competent, morally motivated scientific policy
maker, it is important to avoid inflicting harm and promote the common
good. The purpose of this paper is to clarify how the idea of depth can
play a role in finding the more "approximately true" explanation through
causal comparisons and counterfactual conditionals that are scientifically
salient in principle. In doing so, we must also be able to avoid inflicting
harm and promote the common good. It is not an exhaustive treatment but
rather focuses on a few aspects that may be the most critical in evaluating
the explanatory strengths of a theory in the social sciences. It presents a
general argument which is anti-Humean on the critical side and scientific
realist on the positive and normative side. It also elucidates how
explanations in political economy and other social sciences can be judged
by the scientific realist criterion of causal depth by an extensive example
from research in the political economy of development. In this case, an
"intentional" and methodologically individualist neoclassical explanation
is contrasted with a "structural" dual-dual approach as rival theories
purporting to explain the same set of phenomena. Finally, avoiding harmful
policies and aiding in making policies for advancing the common good are
more likely if the methodological approach advocated here is adopted for
responsible practice. Ultimately, following the methodology advanced here ,
it will be possible to drive further the tendencies towards the creation of
an ethically efficacious economics(EEE) for ecologically sustainable humane
policy making.
Keywords: Scientific Explanations, Social and Economic Explanations,
Causal Depth, Critical Scientific Realism, Political Economy, Neoclassical
Economics, Structuralism, Social Science Theories, Economic Models, Ethics
and Economics, Counterfactuals and Causal Efficacy, Common Good. Economic
Justice, Ethically Efficacious Economics(EEE)
JEL: B4 C9 I3
<http://econpapers.repec.org/scripts/search.pf?jel=B4%20C9%20I3>
Date: 2024–01–01
URL: http://d.repec.org/n?u=RePEc:pra:mprapa:119641&r=hpe
2. Precis of the objects of credence
<http://econpapers.repec.org/RePEc:ehl:lserod:121261>
By: Mahtani, Anna
<http://econpapers.repec.org/scripts/search.pf?aus=Mahtani,%20Anna>
Abstract: A brief summary of the book *The Objects of Credence*. The
book argues that credences, or degrees of belief, are ‘opaque’ or
‘hyperintensional’ and draws out the implications of this fact for
principles of rationality, including deference principles and the principal
principle, and for both decision theory and welfare economics.
JEL: J1 <http://econpapers.repec.org/scripts/search.pf?jel=J1>
Date: 2024–01–10
URL: http://d.repec.org/n?u=RePEc:ehl:lserod:121261&r=hpe
3. Graziani’s circuit scheme. A methodological exploration
<http://econpapers.repec.org/RePEc:pra:mprapa:119511>
By: Baron, Hervé
<http://econpapers.repec.org/scripts/search.pf?aus=Baron,%20Herv%C3%A9>
Abstract: In the following paper, we shall focus on the Italian branch
of the monetary circuit (or monetary theory of production). In particular,
we shall attempt a methodical exploration of the theoretical production of
the one who may rightly be considered the founding father of this branch:
Augusto Graziani. We shall do this along three lines. Firstly, in the wake
of Lunghini and Bianchi (2003), we shall argue that that of Graziani, far
from being a complete model, is presented as a historically “open” scheme,
which therefore needs “closure”. Secondly, we shall argue that this scheme
should be considered as a logical, not historical, re-construction of the
functioning of the capitalist economy. Finally, we shall illustrate how
such a scheme stands at the highest possible level of abstraction.
Keywords: Monetary Circuit, Graziani, Methodology.
JEL: B31 B41
<http://econpapers.repec.org/scripts/search.pf?jel=B31%20B41>
Date: 2023
URL: http://d.repec.org/n?u=RePEc:pra:mprapa:119511&r=hpe
4. Ends versus Means: Kantians, Utilitarians, and Moral Decisions
<http://econpapers.repec.org/RePEc:ajk:ajkdps:275>
By: Roland Bénabou
<http://econpapers.repec.org/scripts/search.pf?aus=Roland%20B%C3%A9nabou>
(Princeton
University, NBER, CEPR, IZA, BREAD, and briq); Armin Falk
<http://econpapers.repec.org/scripts/search.pf?aus=Armin%20Falk> (University
of Bonn); Luca Henkel
<http://econpapers.repec.org/scripts/search.pf?aus=Luca%20Henkel>
(University
of Chicago and University of CEMA, CESifo, JILAEE)
Abstract: Choosing what is morally right can be based on the
consequences (ends) resulting from the decision – the Consequentialist view
– or on the conformity of the means involved with some overarching notion
of duty – the Deontological view. Using a series of experiments, we
investigate the overall prevalence and the consistency of consequentialist
and deontological decision-making, when these two moral principles come
into conflict. Our design includes a real-stakes version of the classical
trolley dilemma, four novel games that induce ends-versus-means tradeoffs,
and a rule-following task. These six main games are supplemented with six
classical self-versus-other choice tasks, allowing us to relate
consequential/deontological behavior to standard measures of prosociality.
Across the six main games, we find a sizeable prevalence (20 to 44%) of
non-consequentialist choices by subjects, but no evidence of stable
individual preference types across situations. In particular, trolley
behavior predicts no other ends-versus-means choices. Instead, which moral
principle prevails appears to be context-dependent. In contrast, we find a
substantial level of consistency across self-versus-other decisions, but
individuals’ degree of prosociality is unrelated to how they choose in
ends-versus-means tradeoffs.
Keywords: morality, deontological, consequentialist, Kantian,
ends-versus-means, trolley dilemma, prosocial, altruism, social preferences
JEL: C91 D01 D64
<http://econpapers.repec.org/scripts/search.pf?jel=C91%20D01%20D64>
Date: 2024–01
URL: http://d.repec.org/n?u=RePEc:ajk:ajkdps:275&r=hpe
5. Sir David Hendry: An Appreciation from Wall Street with Autometrics
Applications <http://econpapers.repec.org/RePEc:gwc:wpaper:2024-001>
By: John B. Guerard
<http://econpapers.repec.org/scripts/search.pf?aus=John%20B.%20Guerard>
(McKinley
Capital Management, LLC)
Abstract: Why should Wall Street researchers care about Sir David
Hendry? What should be a role for macroeconomic forecasting on portfolio
selection? What do the forecasting works and software of Professor Hendry
offer Wall Street that its researchers have yet to exploit? This author
offers a unique perspective on the outstanding software, Autometrics, of
Professor Hendry and his colleagues. The application of saturation
variables in a changing world to address structural breaks in financial
data. Financial economists since the time of Harry Markowitz, William
(Bill) Sharpe, Martin Gruber and Ed Elton, Burton Malkiel, and Haim Levy,
have modeled corporate earnings and stock process to create diversified
portfolios that may incorporate financial anomalies. What the author
suggests is that the exploitation of time series patterns and structural
breaks in financial data may be very useful in creating less efficient
portfolios. That is, Wall Street researchers seek with great effort to beat
the stock market. The author believes that the research of Herman Stekler,
Geoffrey Moore, Victor Zarnowitz, and David Hendry should be integrated
into portfolio selection. Professor Hendry’s software, Autometrics,
should be a great resource of enormous value to portfolio construction and
management.
Keywords: forecasting, saturation variables, structural breaks
JEL: C <http://econpapers.repec.org/scripts/search.pf?jel=C>
Date: 2024–01
URL: http://d.repec.org/n?u=RePEc:gwc:wpaper:2024-001&r=hpe
6. The Hilton Young mission of ‘money doctors’ from Britain to Poland,
1923 – 1924 <http://econpapers.repec.org/RePEc:nbp:nbpmis:366>
By: William A. Allen
<http://econpapers.repec.org/scripts/search.pf?aus=William%20A.%20Allen>
(National
Institute of Economic and Social Research)
Abstract: The history of ‘money doctors’ despatched to give financial
advice to countries thought to be in need of it has mainly concentrated on
American advisers (e.g. Flandreau 2003). This paper gives an account of a
British mission to Poland in 1923 – 1924, a period which coincided with the
ending of Poland’s hyper-inflation. It describes how the mission
contributed to Poland’s monetary stabilisation in 1924, and explores the
tensions that arose about the scope and functions of the mission, and of
foreign advisers more generally, both between the mission and the Polish
authorities, and within the mission.
Keywords: Poland, money doctors, inflation, Hilton Young, Grabski,
monetary reform
JEL: N14 N24 N44
<http://econpapers.repec.org/scripts/search.pf?jel=N14%20N24%20N44>
Date: 2024
URL: http://d.repec.org/n?u=RePEc:nbp:nbpmis:366&r=hpe
------------------------------
This nep-hpe issue is ©2024 by Erik Thomson
<http://econpapers.repec.org/RAS/pth72.htm>. It is provided as is without
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