In this book the author develops a new approach to uncertainty in economics, which calls for a fundamental change in the methodology of economics. It provides a comprehensive overview and critical appraisal of the economic theory of uncertainty and shows that uncertainty was originally conceptualized both as an epistemic and an ontological problem. As a result of the economic professions' attempt to become acknowledged as a science, the more problematic aspect of ontological uncertainty has been neglected and the subjective probability approach to uncertainty became dominant in economic theory. A careful analysis of ontological theories of uncertainty explains the blindness of modern economics to economic phenomena such as instability, slumps or excessive booms. Based on these findings the author develops a new approach that legitimizes a New Uncertainty Paradigm in economics.
Inhaltsverzeichnis
Part I: Uncertainty in economic thought. - Uncertainty in the history of economic thought. - Truth, probability and uncertainty. - The principles of economics. - Probability and neoclassical uncertainty. - Part II: Philosophies of uncertainty. - The origin of the profit. - Uncertainty and economic instability. -The division of knowledge and unknowledge. - The nature of economics. - Part III: Methodology of uncertainty. - Extending the boundaries of economics. - Uncertainty and fiction. - Human after all.
