Ever since the inception of economics over two hundred years ago,
the tools at the discipline's disposal have grown more and more
more sophisticated. This book provides a historical introduction to
the methodology of economics through the eyes of economists. The
story begins with John Stuart Mill's seminal essay from 1836 on the
definition and method of political economy, which is then followed
by an examination of how the actual practices of economists changed
over time to such an extent that they not only altered their
methods of enquiry, but also their self-perception as economists.
Beginning as intellectuals and journalists operating to a large
extent in the public sphere, they then transformed into experts who
developed their tools of research increasingly behind the scenes.
No longer did they try to influence policy agendas through public
discourse; rather they targeted policymakers directly and with
instruments that showed them as independent and objective policy
advisors, the tools of the trade changing all the while. In order
to shed light on this evolution of economic methodology, this book
takes carefully selected snapshots from the discipline's history.
It tracks the process of development through the nineteenth and
twentieth centuries, analysing the growth of empirical and
mathematical modelling. It also looks at the emergence of the
experiment in economics, in addition to the similarities and
differences between modelling and experimentation. This book will
be relevant reading for students and academics in the fields of
economic methodology, history of economics, and history and
philosophy of the social sciences.
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