The Unity of Science and Economics

The Unity of Science and Economics PDF Author: Jing Chen
Publisher: Springer
ISBN: 149393466X
Category : Science
Languages : en
Pages : 148

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Book Description
This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us to systematically measure the effectiveness of different policies and institutional structures at varying levels of resource abundance and cost.The theory presented in this book shows that there do not exist universally optimal policies or institutional structures. Instead, the impacts of different policies or social structures have to be measured within the context of existing levels of resource abundance. As the physical costs of extracting resources rise steadily, many policy assumptions adopted in mainstream economic theories, and workable in times of cheap and abundant energy supplies and other resources, need to be reconsidered. In this rapidly changing world, the theory presented here provides a solid foundation for examining the long-term impacts of today's policy decisions.

The Unity of Science and Economics

The Unity of Science and Economics PDF Author: Jing Chen
Publisher: Springer
ISBN: 149393466X
Category : Science
Languages : en
Pages : 148

Get Book Here

Book Description
This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us to systematically measure the effectiveness of different policies and institutional structures at varying levels of resource abundance and cost.The theory presented in this book shows that there do not exist universally optimal policies or institutional structures. Instead, the impacts of different policies or social structures have to be measured within the context of existing levels of resource abundance. As the physical costs of extracting resources rise steadily, many policy assumptions adopted in mainstream economic theories, and workable in times of cheap and abundant energy supplies and other resources, need to be reconsidered. In this rapidly changing world, the theory presented here provides a solid foundation for examining the long-term impacts of today's policy decisions.

General Philosophy of Science: Focal Issues

General Philosophy of Science: Focal Issues PDF Author:
Publisher: Elsevier
ISBN: 0080548547
Category : Philosophy
Languages : en
Pages : 713

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Book Description
Scientists use concepts and principles that are partly specific for their subject matter, but they also share part of them with colleagues working in different fields. Compare the biological notion of a 'natural kind' with the general notion of 'confirmation' of a hypothesis by certain evidence. Or compare the physical principle of the 'conservation of energy' and the general principle of 'the unity of science'. Scientists agree that all such notions and principles aren't as crystal clear as one might wish. An important task of the philosophy of the special sciences, such as philosophy of physics, of biology and of economics, to mention only a few of the many flourishing examples, is the clarification of such subject specific concepts and principles. Similarly, an important task of 'general' philosophy of science is the clarification of concepts like 'confirmation' and principles like 'the unity of science'. It is evident that clarfication of concepts and principles only makes sense if one tries to do justice, as much as possible, to the actual use of these notions by scientists, without however following this use slavishly. That is, occasionally a philosopher may have good reasons for suggesting to scientists that they should deviate from a standard use. Frequently, this amounts to a plea for differentiation in order to stop debates at cross-purposes due to the conflation of different meanings. While the special volumes of the series of Handbooks of the Philosophy of Science address topics relative to a specific discipline, this general volume deals with focal issues of a general nature. After an editorial introduction about the dominant method of clarifying concepts and principles in philosophy of science, called explication, the first five chapters deal with the following subjects. Laws, theories, and research programs as units of empirical knowledge (Theo Kuipers), various past and contemporary perspectives on explanation (Stathis Psillos), the evaluation of theories in terms of their virtues (Ilkka Niiniluto), and the role of experiments in the natural sciences, notably physics and biology (Allan Franklin), and their role in the social sciences, notably economics (Wenceslao Gonzalez). In the subsequent three chapters there is even more attention to various positions and methods that philosophers of science and scientists may favor: ontological, epistemological, and methodological positions (James Ladyman), reduction, integration, and the unity of science as aims in the sciences and the humanities (William Bechtel and Andrew Hamilton), and logical, historical and computational approaches to the philosophy of science (Atocha Aliseda and Donald Gillies).The volume concludes with the much debated question of demarcating science from nonscience (Martin Mahner) and the rich European-American history of the philosophy of science in the 20th century (Friedrich Stadler). - Comprehensive coverage of the philosophy of science written by leading philosophers in this field - Clear style of writing for an interdisciplinary audience - No specific pre-knowledge required

The Problem of the Unity of Science

The Problem of the Unity of Science PDF Author: Académie internationale de philosophie des sciences. Meeting
Publisher: World Scientific
ISBN: 9812799591
Category : Science
Languages : en
Pages : 212

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Book Description
The unity of science has been a widely discussed issue both in the philosophy of science and within several sciences. Reductionism has often been seen as the means of bringing the different sciences to a fundamental unity by reference to some basic science, but it shows many limitations. Multidisciplinarity and interdisciplinarity have also been proposed as methodologies for attaining unity without underestimating the diversity of the sciences. This volume starts with a clarification of the possible meanings of this unity and then discusses the features of the mentioned approaches to unity, evaluating the success and the shortcomings of the unification programme among different sciences and within a single science. Contents: The General Framework: What Does ''The Unity of Science'' Mean? (E Agazzi); The Unity of Disunity (J Faye); Sciences of Nature and Sciences of Man: On a Difference between Natural Science and the Interpretive Sciences of Man (F Collin); Natural Sciences and Human Sciences (G M Prosperi); Overcoming Reductionism: Complexity, Reductionism, and the Unity of Science (J Ricard); The Consilience Approach to the Unity of Science (B Kanitscheider); The Unity Within a Single Science: The Problem of Unity in a Single Field of Science (A Cordero); The Unity of Particle Physics and Cosmology? The Case of the Cosmological Constant (J Mosterin); Is Quantum Mechanics a Universal Theory ? (B d''Espagnat); and other papers. Readership: Graduate students and academics in the philosophy of science.

The unity of the capitalist economy and state

The unity of the capitalist economy and state PDF Author: Geert Reuten
Publisher: BRILL
ISBN: 9004392807
Category : Political Science
Languages : en
Pages : 735

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Book Description
In The unity of the capitalist economy and state, Geert Reuten offers a systematic exposition of the capitalist system, showing that the capitalist economy and the capitalist state constitute a unity. In its critique of contemporary economics, the book argues that in order to comprehend the capitalist system, one requires a full synthetic exposition of the economic and state institutions and processes necessary for its continued existence. A synthetic approach also reveals a range of components that are often obscured by partial analyses. In its systematic character, Reuten’s work takes inspiration from Marx’s provisional outline of the capitalist system in Capital, while also addressing fields that Marx left unfinished – such as the capitalist state.

Neoclassical Economics and the Unity of Science

Neoclassical Economics and the Unity of Science PDF Author: Bruce Nevin Shortt
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 556

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Book Description


Foundations of Complex-system Theories

Foundations of Complex-system Theories PDF Author: Sunny Y. Auyang
Publisher: Cambridge University Press
ISBN: 9780521778268
Category : Business & Economics
Languages : en
Pages : 422

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Book Description
Analyzes approaches to the study of complexity in the physical, biological, and social sciences.

Toward a Formal Science of Economics

Toward a Formal Science of Economics PDF Author: Bernt P. Stigum
Publisher: MIT Press
ISBN: 9780262192842
Category : Business & Economics
Languages : en
Pages : 1068

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Book Description
Consumer Law and Practice provides undergraduate students and those studying the LPC with concise yet comprehensive guidance. It is also a useful aid for practitioners (including those advising businesses) and non-lawyers requiring information which can be quickly understood. Using an innovative problem-solving approach to the subject, we focus on situations in which clients may find themselves and explain how the law deals with such situations. "Between the covers is a mine of information clearly and accurately set out ... a valuable tool for non-specialist and specialist alike." The Law Society's Gazette

Unity Of Nature, The: Wholeness And Disintegration In Ecology And Science

Unity Of Nature, The: Wholeness And Disintegration In Ecology And Science PDF Author: Alan Marshall
Publisher: World Scientific
ISBN: 1783261161
Category : Science
Languages : en
Pages : 289

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Book Description
The idea behind The Unity of Nature is a strong theoretical theme in a number of scientific and environmental fields from ecosystems ecology, through quantum physics to environmental philosophy and ecopolitics giving rise to an inspiring, optimistic, socially-responsive and environment-friendly worldview. The fields of science and environmentalism have inherited this theme of natural unity through an intellectual lineage that encompasses many non-scientific and non-environmental fields such as sociology, theology and political philosophy. Many of these fields have used natural unity in a way which is in stark opposition to the metaphysical and political desires of those who promulgate the unity of nature for progressive social change.This book discusses how this has transpired and examines the social and intellectual processes that have been at work. These include the social construction of the Organicism versus Mechanicism debate in ecology, the intellectual links between neo-classical economic principles and the ‘New Sciences’, the techno-scientific background of Gaia theory, and the social conservatism of ecological functionalism.

Unity of Science

Unity of Science PDF Author: Tuomas E. Tahko
Publisher: Cambridge University Press
ISBN: 1108604560
Category : Science
Languages : en
Pages : 137

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Book Description
Unity of science was once a very popular idea among both philosophers and scientists. But it has fallen out of fashion, largely because of its association with reductionism and the challenge from multiple realisation. Pluralism and the disunity of science are the new norm, and higher-level natural kinds and special science laws are considered to have an important role in scientific practice. What kind of reductionism does multiple realisability challenge? What does it take to reduce one phenomenon to another? How do we determine which kinds are natural? What is the ontological basis of unity? In this Element, Tuomas Tahko examines these questions from a contemporary perspective, after a historical overview. The upshot is that there is still value in the idea of a unity of science. We can combine a modest sense of unity with pluralism and give an ontological analysis of unity in terms of natural kind monism. This title is available as Open Access on Cambridge Core.

Reflexivity and Economics

Reflexivity and Economics PDF Author: John Davis
Publisher: Routledge
ISBN: 1315471590
Category : Business & Economics
Languages : en
Pages : 240

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Book Description
The form of ‘reflexivity’ – defined by the dictionary as that which is ‘directed back upon itself’ – that is most relevant to economic methodology is that where observation of the economy leads to ideas that change behavior, which in turn changes (is directed back upon) the economy itself. As George Soros explains: "if investors believe that markets are efficient then that belief will change the way they invest, and that in turn will change the nature of the markets they are observing ... That is the principle of reflexivity". Although various versions of reflexivity have long been discussed, in recent years George Soros has been particularly effective in bringing ideas about reflexivity to the attention of the economic and financial communities. In a series of writings he has systematically argued that reflexivity is not only an important aspect of economic life, it is an aspect that is neglected in most mainstream theorizing; and in addition, that the neglect of reflexivity has been responsible for the failure of economists to predict, explain, or offer a solution for events such as the recent financial crisis. Soros’ ideas about reflexivity have important methodological significance, and his chapter in this book summarizes and clarifies his arguments. His contribution is joined by those of thirteen scholars from a wide range of relevant fields, who provide a commentary on the idea of reflexivity in economics. This book was originally published as a special issue of The Journal of Economic Methodology.