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Books > History > History of specific subjects > Economic history
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Theoretical and Practical Reason in Economics - Capacities and Capabilities (Paperback, 2013 ed.)
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Theoretical and Practical Reason in Economics - Capacities and Capabilities (Paperback, 2013 ed.)
Series: SpringerBriefs in Philosophy
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The aim of the book is to argue for the restoration of theoretical
and practical reason to economics. It presents Nancy Cartwright and
Amartya Sen's ideas as cases of this restoration and sees Aristotle
as an influence on their thought. It looks at how we can use these
ideas to develop a valuable understanding of practical reason for
solving concrete problems in science and society. Cartwright's
capacities are real causes of events. Sen's capabilities are the
human person's freedoms or possibilities. They relate these
concepts to Aristotelian concepts. This suggests that these
concepts can be combined. Sen's capabilities are Cartwright's
capacities in the human realm; capabilities are real causes of
events in economic life. Institutions allow us to deliberate on and
guide our decisions about capabilities, through the use of
practical reason. Institutions thus embody practical reason and
infuse certain predictability into economic action. The book
presents a case study: the UNDP's HDI. "
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