Daniel Hausman — Philosophy of Economics

Philosopher Daniel Hausman on rationality, John Stuart Mill, and austerity

[Guizambaldi]

This is basically right, but we have natural experiments now. This is a much better tool to identify causal relationships than old research.

[bradfordtownsend]

Yes, the United States moved manufacturing to India and China... The Americans do not have as much pollution. The White river in Indianapolis is poisoned a century after polluting stopped. Moving operations to poor countries makes us healthier, while enjoying the benefits of modern industry. Corporations privatize profit and commoners absorb risk thru taxes.

[rogershadao]

No. It all starts from Aristotles view of justice.

[ibperson]

As an economist, I can tell you he did a terrible job. Especially in his characterization of real (freshwater) business cycle (rbc) economists’ vs new keynsian (salt water) economists’ opinions and from exactly where the differing advice arises. It is not about a representative agent and rationality for one group and “pragmatism” from the other group. It is about the differing mathematical models including the utility of including money stocks rather than just wealth (consumption labor capital etc). Anyway the whole thing sucked imo. He may be a good philosopher (I cant tell) but he understands economics so poorly as to be incapable of philosophy of economics, at least in the areas he discussed. His discussion about how economists rely on preferences was mostly valid and interesting. The early part had problems too but im done writing a comment that no one will ever see thanks.

[drgswhk]

But a physicist can calculate where the leaf will fall…