Philosophy of Economics


I recently worked my way through three books on the philosophy of economics (PE). The first was On the use and misuse of theories and models in economics by Lars Pålsson Syll ( Lars is a Swedish economist that teaches econometrics, but oh my how he cogently systematically destroys the pretensions of so-called social mathematics. The next read was A Philosophical Framework for Rethinking Theoretical Economics and Philosophy of Economics by Gustavo Marqués ( This book comes highly recommended by Lars, and I found it highly informative and offering some pragmatic solutions for the path forward. The third book was Narrative Fixation in Economics (WEA Books) by Edward Fullbrook ( Wow, what a read. Cannot really do justice here. I fondly call these three books the holy trinity of PE :wink:


Thanks for the recommendations . . . I’ve added them to my Wish List.

One of my objectives is to bring the benefits of basic economics to the masses without them having much experience or education in same.

In other words, get the public the benefit of the topic without them having to have studied the topic at length.

As we know, models are only as good as the assumptions they are based on.

Many economic models I see don’t include resources depletion and assume ‘infinite’ substitution ability without any real effort to see if that assumption holds true.

I also believe we can be the conduit between academia and the general public.

Helping folks grasp the important economic topics in small doses arms them when they go to vote.


My pleasure. I really agree that there is a need to bring economics to the general audience in small manageable doses, which is one of the major reasons Kate’s book is so good and one I will be hitting to family and friends. I think you are right that many assumptions in economics are unrealistic when it comes to growth and finite resources. So much to learn.