By Roger E. Backhouse
Roger Backhouse is a key determine within the box of financial technique. Explorations in fiscal method either clarifies and responds to the problems raised through the literature and argues that technique is a vital task. supplying a positive, yet severe, reaction to the hot literature, this assortment presents very important new insights for college kids and researchers in financial technique and the philosophy of technology.
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Additional resources for Explorations in Economic Methodology: From Lakatos to Empirical Philosophy of Science
Reprinted in Lakatos (1978). Leijonhufvud, Axel (1968) On Keynesian Economics and the Economics of Keynes. Oxford: Oxford University Press. Leijonhufvud, Axel (1976) ‘Schools, “revolutions” and research programmes in economic theory’, in S. J. ) Method and Appraisal in Economics. Cambridge: Cambridge University Press. Lucas, R. E. (1972) ‘Expectations and the neutrality of money’, Journal of Economic Theory 4, pp. 103–24. 38 Rethinking Lakatos Lucas, R. E. (1973) ‘Some international evidence on output-inflation trade offs’, American Economic Review 63, pp.
The best we can say is that the hypothesis has not been refuted by empirical evidence. 1). This is when the results were first published, Friedman’s ‘The role of monetary policy’ (Friedman, 1968) having been delivered as his Presidential Address to the AEA the previous year. 1 Inflation and unemployment in the USA, 1960–72 During the late 1960s there was a large expansion of aggregate demand, due first to Kennedy’s application of Keynesian policies and later to the cost of the Vietnam war. The sharp rise in inflation, without much change in unemployment, in 1968–9 could be explained in terms of a non-linear Phillips curve, but once this high inflation rate began to feed into expectations, the economy moved off the 1960s Phillips curve.
Hicks, John R. (1937) ‘Mr Keynes and the “classics”: a suggested interpretation’, Econometrica 5, pp. 147–59. Hicks, John R. (1939) Value and Capital. Oxford: Oxford University Press. Keynes, John Maynard (1971–83) The Collected Writings of John Maynard Keynes, 30 volumes. London: Macmillan. Lakatos, I. (1970) ‘Falsification and the methodology of scientific research programmes’, in I. Lakatos and A. Musgrave (eds) Criticism and the Growth of Knowledge. Cambridge: Cambridge University Press. Reprinted in Lakatos (1978).
Explorations in Economic Methodology: From Lakatos to Empirical Philosophy of Science by Roger E. Backhouse