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The 'vices' are three bad habits into which economists have fallen over the past fifty years: bad statistics, bad theory, and bad applications of statistics and theory to public affairs. This book details the vices, tracing them to the influence of three giants of the 1940s and 1950s in economics, the Americans Lawrence Klein and Paul Samuelson, and the Dutchman Jan Tinbergen. McCloskey recommends a 'bourgeois', even feminine, virtue to replace the aristocratic and masculine vices of modern economics. She sees intellectual life as a bourgeois market of negotiating equals. What is good for a liberal democracy is good for intellectual life, she argues, even in the forbiddingly mathematical world of modern economics.

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Genre: Business & Economics
Author: Deirdre N. McCloskey
Publisher: Leiden University Press
Release: 1996
File: 135 Pages
ISBN-13: 9053562443

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For a century and a half, the artists and intellectuals of Europe have scorned the bourgeoisie. And for a millennium and a half, the philosophers and theologians of Europe have scorned the marketplace. The bourgeois life, capitalism, Mencken’s “booboisie” and David Brooks’s “bobos”—all have been, and still are, framed as being responsible for everything from financial to moral poverty, world wars, and spiritual desuetude. Countering these centuries of assumptions and unexamined thinking is Deirdre McCloskey’s The Bourgeois Virtues, a magnum opus that offers a radical view: capitalism is good for us. McCloskey’s sweeping, charming, and even humorous survey of ethical thought and economic realities—from Plato to Barbara Ehrenreich—overturns every assumption we have about being bourgeois. Can you be virtuous and bourgeois? Do markets improve ethics? Has capitalism made us better as well as richer? Yes, yes, and yes, argues McCloskey, who takes on centuries of capitalism’s critics with her erudition and sheer scope of knowledge. Applying a new tradition of “virtue ethics” to our lives in modern economies, she affirms American capitalism without ignoring its faults and celebrates the bourgeois lives we actually live, without supposing that they must be lives without ethical foundations. High Noon, Kant, Bill Murray, the modern novel, van Gogh, and of course economics and the economy all come into play in a book that can only be described as a monumental project and a life’s work. The Bourgeois Virtues is nothing less than a dazzling reinterpretation of Western intellectual history, a dead-serious reply to the critics of capitalism—and a surprising page-turner.

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Genre: Business & Economics
Author: Deirdre N. McCloskey
Publisher: University of Chicago Press
Release: 2010-03-15
File: 634 Pages
ISBN-13: 0226556670

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In his Ethics, Aristotle argued that human beings try to further a variety of values by balancing them, stating that people try to find a middle road between excess and deficiency. The author develops and applies this idea to the values of economics, arguing that in the economy; freedom, justice and care are also balanced to further ends with scarce means. Freedom is furthered through market exchange, justice through a redistributive role of the state, and care through mutual gifts of labour and sharing of resources in the economy. The book argues that economics is, and has always been, about human values, which guide, enable, constrain and change economic behaviour.

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Genre: Business & Economics
Author: Irene van Staveren
Publisher: Routledge
Release: 2013-03-07
File: 256 Pages
ISBN-13: 9781134548705

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Deirdre McCloskey is rightly one of the most recognizable names in economics. She views economics as a language that uses all the rhetorical devices of everyday conversation and therefore posits that it should be judged by aesthetic and literary standards, and not the criteria of mathematical rigour that is espoused by the mainstream. This controversial standpoint has been hugely influential and this examination of the methodological and philosophical consequences of her work is overdue, and very welcome.

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Genre: Business & Economics
Author: Benjamin Balak
Publisher: Psychology Press
Release: 2006
File: 142 Pages
ISBN-13: 0415316820

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This book combines the study of rhetoric, history, philosophy, philosophy of statistics and the culture of investing to discuss the foundations of stochastical predictability in investment theory. Besides discussing the problem of stochastical prediction, the book also covers alternative investment theories. Ideas from uncertainty economics, expressed by the likes of Keynes, Knight, von Mises, Taleb and McCloskey are also discussed. This book will be of interest to researchers and academics in the field of investment theory, as well as investment practitioners.

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Genre: Business & Economics
Author: Thomas Pistorius
Publisher: Springer
Release: 2017-08-24
File: 257 Pages
ISBN-13: 9783319550053

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As everyone knows, intuition is warm and fuzzy, qualitative, not measurable. Economics, on the other hand, is quantitative, and if it is not a hard science, at least it is the "queen of the social sciences." It is, therefore, intuitively obvious, that intuition and economics are as if oil and water. The problem is, what is intuitively obvious is not always correct. And, there are two major reasons why intuition and economics are not like oil and water. First, economics concerns itself with decision making, and decisions are made in the brain. The human brain is the size of a grapefruit, weighing three pounds with approximately 180 billion neurons, each physically independent but interacting with the other neurons. What we call intuition is, like decision making, a natural information processing function of the brain. Second, despite the current emphasis on quantitative analysis and deductive logic there is a rich history of economists speaking about intuition. First, the human brain, specifically the neocortex, has a left and right hemisphere. The specialized analytical style of the left hemisphere and the specialized intuitive style of the right hemispheres complement each other.

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Genre: Business & Economics
Author: Roger Frantz
Publisher: Springer Science & Business Media
Release: 2006-07-02
File: 178 Pages
ISBN-13: 9780387239347

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A witty and thoughtful romp through the profession and practice of economics

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Genre: Business & Economics
Author: Deirdre N. McCloskey
Publisher: University of Michigan Press
Release: 2000
File: 287 Pages
ISBN-13: 0472067443

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Poging om maatschappelijke en morele waarden in de economische theorie te laten terugkeren, gebaseerd op de ethiek van Aristoteles. De schrijfster onderscheidt daartoe drie waardendomeinen: het persoonlijke (vrijheid), publieke (rechtvaardigheid) en interpersoonlijke (zorg). Zij toont aan dat economische relaties, die gebaseerd zijn op vrijheid, niet kunnen draaien zonder een minimum aan rechtvaardigheid en zorg.

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Genre: Economic man
Author: Irene van Staveren
Publisher: Eburon Academic Publishers
Release: 1999
File: 281 Pages
ISBN-13: UVA:X006006908

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The last 200 years have witnessed a 100-fold leap in well-being. Deirdre McCloskey argues that most people today are stunningly better off than their forbearers were in 1800, and that the rest of humanity will soon be. A purely materialist, incentivist view of economic change does not explain this leap. We have now the third in McCloskey's three-volume opus about how bourgeois values transformed Europe. Volume 3 nails the case for that transfiguration, telling us how aristocratic virtues of hierarchy were replaced by bourgeois virtues (more precisely, by attitudes toward virtues) that made it possible for ordinary folk with novel ideas to change the way people, farmed, manufactured, traveled, ruled themselves, and fought. It is a dramatic story, and joins a dramatic debate opened up by Thomas Piketty in his best-selling Capital in the 21st Century. McCloskey insists that economists are far too preoccupied by capital and saving, arguing against the position (of Piketty and most others) that capital induces a tendency to get more, that money reproduces itself, that riches are created from riches. Not so, our intrepid McCloskey shows. Bill Gates and Steve Jobs, among the biggest wealth accumulators in our era, didn't get rich through the magic of compound interest on capital. They got rich through intellectual property, creating billions of dollars from virtually nothing. Capital was no more important an ingredient to the original Apple or Microsoft than cookies or cucumbers. The debate is between those who think riches are created from riches versus those who, with McCloskey, think riches are created from rags, between those who see profits as a generous return on capital, or profits coming from innovation that ultimately benefits us all.

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Genre: Business & Economics
Author: Deirdre N. McCloskey
Publisher: University of Chicago Press
Release: 2017-10-13
File: 768 Pages
ISBN-13: 9780226527932

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An anthology of works on the philosophy of economics, including classic texts and essays exploring specific branches and schools of economics. Completely revamped, this edition contains new selections, a revised introduction and a bibliography. The volume contains 26 chapters organized into five parts: (I) Classic Discussions, (II) Positivist and Popperian Views, (III) Ideology and Normative Economics, (IV) Branches and Schools of Economics and Their Methodological Problems and (V) New Directions in Economic Methodology. It includes crucial historical contributions by figures such as Mill, Marx, Weber, Robbins, Knight, and Veblen and works by most of the leading contemporary figures writing on economic methodology, including five Nobel Laureates in Economics.

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Genre: Business & Economics
Author: Daniel M. Hausman
Publisher: Cambridge University Press
Release: 2008
File: 527 Pages
ISBN-13: 9780521883504

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