Testing, Rationality, and Progress ― Essays on the Popperian Tradition in Economic Methodology

In recent years, the field of economic methodology has expanded and become popular among economists. This book brings together ten previously published essays by one of the leading practitioners in this emerging field. The general theme is the application of Karl Popper's philosophy of science to economics - not only by Popper himself but also by other members of the "Popperian school." There are three major issues that surface repeatedly: the applicability of Popper's "falsificationist" philosophy of science; the applicability of I. Lakatos's "methodology of scientific research programs" to economics; and the question of Popper's "situational analysis" approach to social science. A concluding chapter, published here for the first time, ties together the previous essays, addressing the more general issue of evaluating the Popperian tradition relative to other recent positions in economic methodology, and ends with suggestions and predictions regarding future work in the Popperian tradition in economic methodology.

D. Wade Hands, associate professor of economics at the University of Puget Sound, is the author of Introductory Mathematical Economics and many articles on economic methodology and the history of economic thought.