Limits of Economic and Social KnowledgeThe book aims to show that the deterministic vision embodied in conventional economic modelling is neither consistent with nor supported by the state of the art in mathematics, logic, and physical science. DeCanio recognizes that economic agents are intrinsically free and somewhat unpredictable, which is essential for economic and social theory. |
Contents
| 1 | |
2 Consequences of Computational Limits | 20 |
3 Simulating Simple Societies | 33 |
4 Economics and Physical Science | 103 |
5 Economics Behaviorism and Utilitarianism | 122 |
Climate Policy | 152 |
7 Politics and Governance | 173 |
8 The Gift of Freedom | 196 |
Notes | 209 |
| 225 | |
| 243 | |
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Common terms and phrases
A.5 Continued agents analysis argument Bifurcation diagram C.S. Lewis CA-Land Chapter choices Class 4 CAs climate change climate policy collective action complexity consequences consumption DeCanio decisions determined deterministic economics economists emissions endowments example externalities Fibonacci unary Figure A.8 Continued formal Galileo given global greenhouse gas Halting Problem human freedom income individual individual’s input issues Kaldor-Hicks kind labor limits Machiavelli marginal utility market equilibrium material materialist mathematical maximization metaphysical models modern Montreal Protocol moral nations natural law natural science null hypothesis outcomes output P-value Pareto optimality particular patterns philosophical physical political possible predictions Primes binary principle problem produce property rights purely quantum random initial condition reason redistribution regression rules scientific scientist slaves social science social welfare function society standard steps f t-value theorem theory tion Turing machine Turing test Turing’s unary prime underlying utilitarianism utility functions values Wolfram