Contrasts Friedman's statements on methodology with his practice as an economist

For much of the last three decades or more economic methodology has been dominated by the work of Karl Popper who advocated the position that science is what it is by virtue of its adherence to certain ideals. The methodology of science is therefore not empirical or descriptive, but rather a set of rules for producing rational' or objective' knowledge. This volume presents alternatives to an exclusively Popperian methodology: its purpose is not to reject Popper, but to show there are other ways of construing methodology.
The book is divided into three parts. Part I contains two critical...

For much of the last three decades or more economic methodology has been dominated by the work of Karl Popper who advocated the position that science is what it is by virtue of its adherence to certain ideals. The methodology of science is therefore not empirical or descriptive, but rather a set of rules for producing rational' or objective' knowledge. This volume presents alternatives to an exclusively Popperian methodology: its purpose is not to reject Popper, but to show there are other ways of construing methodology.
The book is divided into three parts. Part I contains two critical...

A supplement to History of Political Economy

Economists and psychologists share an interest in explaining how people make the choices that they do. However, economists have tended to stress individual rationality, shaped by economic motives and expressed in formal logical or mathematical models, while psychologists have preferred to identify influences through experimentation. In recent decades, behavioral economics has bridged the two fields and challenged the traditional economic assumption that individuals choose rationally. The essays collected here provide a longer view and...