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The Methodology of Positive Economics: Reflections on the Milton Friedman Legacy epub download

by Uskali Mäki


Uskali Mäki is Academy Professor at the Academy of Finland

Milton Friedman's 1953 essay 'The methodology of positive economics' remains the most cited, influential, and controversial piece of methodological writing in twentieth-century economics. Uskali Mäki is Academy Professor at the Academy of Finland.

Milton Friedman's book Essays in Positive Economics (1953) is a collection of earlier articles by the author with as its lead an original essay "The Methodology of Positive Economics. This essay posits Friedman's famous, but controversial, principle (called the F-Twist by Samuelson) that assumptions need not be "realistic" to serve as scientific hypotheses; they merely need to make significant predictions. The book is organized in four parts: Introduction. The Methodology of Positive Economics.

Milton Friedman's 1953 essay 'The methodology of positive economics' remains the most cited, influential, and controversial piece of methodological writing in twentieth-century economics. Since its appearance, the essay has shaped the image of economics as a scientific discipline, both within and outside of the academy. At the same time, there has been an ongoing controversy over the proper interpretation and normative evaluation of the essay.

This paper offers critical reflections on Mäki’s approach and interpretation.

Reflections on the Milton Friedman Legacy . Milton Friedman's 1953 essay 'The methodology of positive economics' remains the most cited, influential, and controversial piece of methodological writing in twentieth-century economics. In celebration of the fiftieth anniversary of its publication, Uskali Mäki has assembled an impressive array of scholars to explore the essay from a wide variety of perspectives. He has done a superb job: the papers are uniformly substantive and informative. At the same time, there has been an ongoing controversy over the proper interpretation and normative evaluation of the essay

Milton Friedman's 1953 essay 'The methodology of positive economics' remains the most cited, influential, and controversial piece of methodological writing in twentieth-century economics. At the same time, there has been an ongoing controver Milton Friedman's 1953 essay 'The methodology of positive economics' remains the most cited, influential, and controversial piece of methodological writing in twentieth-century economics.

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Milton Friedman's 1953 essay 'The methodology of positive economics' remains the most cited, influential, and controversial piece of methodological writing in twentieth-century economics. Since its appearance, the essay has shaped the image of economics as a scientific discipline, both within and outside of the academy. At the same time, there has been an ongoing controversy over the proper interpretation and normative evaluation of the essay. Perceptions have been sharply divided, with some viewing economics as a scientific success thanks to its adherence to Friedman's principles, others taking it as a failure for the same reason. In this book, a team of world-renowned experts in the methodology of economics cast new light on Friedman's methodological arguments and practices from a variety of perspectives. It provides the 21st century reader with an invaluable assessment of the impact and contemporary significance of Friedman's seminal work.

The Methodology of Positive Economics: Reflections on the Milton Friedman Legacy epub download

ISBN13: 978-0521867016

ISBN: 0521867010

Author: Uskali Mäki

Category: Other

Subcategory: Business & Finance

Language: English

Publisher: Cambridge University Press; 1 edition (May 29, 2009)

Pages: 382 pages

ePUB size: 1422 kb

FB2 size: 1560 kb

Rating: 4.2

Votes: 199

Other Formats: doc txt lrf lrf

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Enone
This is an outstanding collection of essays on the impact and meaning of the 1953 methodological essay. I particularly liked the discussion of early drafts as well as inclusion of the final version of F53 and an afterword by its author. Since F53 is one of the most frequently referenced methodological works in economics it is useful to explore the various interpretations of the essay.
Enone
This is an outstanding collection of essays on the impact and meaning of the 1953 methodological essay. I particularly liked the discussion of early drafts as well as inclusion of the final version of F53 and an afterword by its author. Since F53 is one of the most frequently referenced methodological works in economics it is useful to explore the various interpretations of the essay.
Vudozilkree
This book provides the latest thinking on Friedman's famous methodology essay (F53). Many of the essays have a historical or contextual bent in the sense that they do not focus exclusively on the text of F53 itself, but instead seek to either place it within the historical context in which it emerged or relate it to later developments in economic theory.

All the essays in this volume are of high quality, although a couple of them deal only tangentially with F53 itself. In my opinion, the 'stand-out' articles are:

*Maki's realist interpretation of F53. This essay does not draw on additional texts; instead it seeks to show that there are sufficient textual resources within F53 itself to make the case. This is interesting if for no other reason that the dominant interpretation of the text is an intrumentalist one. Hoover also offers a [causal] realist interpretation, but seeks to make his case by drawing upon Friedman's work on monetary history and on Alfred Marshall's methodological comments.
*Hammond's essay, although strictly for specialist, is interesting because it shows how F53 evolved over two drafts (beginning in 1947).
*Backhouse's essay does an excellent job of putting F53 in the context of the debates that were occurring in the 1930 and 1940s. Backhouse argues that F53 was a direct response to these debates and was aimed at undercutting the major methodological criticisms of neoclassicism at the time.
Vudozilkree
This book provides the latest thinking on Friedman's famous methodology essay (F53). Many of the essays have a historical or contextual bent in the sense that they do not focus exclusively on the text of F53 itself, but instead seek to either place it within the historical context in which it emerged or relate it to later developments in economic theory.

All the essays in this volume are of high quality, although a couple of them deal only tangentially with F53 itself. In my opinion, the 'stand-out' articles are:

*Maki's realist interpretation of F53. This essay does not draw on additional texts; instead it seeks to show that there are sufficient textual resources within F53 itself to make the case. This is interesting if for no other reason that the dominant interpretation of the text is an intrumentalist one. Hoover also offers a [causal] realist interpretation, but seeks to make his case by drawing upon Friedman's work on monetary history and on Alfred Marshall's methodological comments.
*Hammond's essay, although strictly for specialist, is interesting because it shows how F53 evolved over two drafts (beginning in 1947).
*Backhouse's essay does an excellent job of putting F53 in the context of the debates that were occurring in the 1930 and 1940s. Backhouse argues that F53 was a direct response to these debates and was aimed at undercutting the major methodological criticisms of neoclassicism at the time.