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Is Pragmatism Good for Anything? Towards a Theory of Impractical Economics

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  • Clifford Poirot

Abstract

This article discusses the relationship between classical pragmatism, political economy and economic policy. Classical pragmatism is contrasted with vulgar meanings and uses of the term pragmatism. Classical pragmatism aims at a deep, substantive theoretical understanding of real-world economic systems and supports application of well-warranted claims to knowledge to improve the human condition. The article reviews the contributions of the founder of pragmatism, Charles Sanders Peirce, to the areas of ontology and epistemology as well as their further development by contemporary classical pragmatist philosopher Susan Haack. Hilary Putnam’s argument that we can have ethics without ontology and objectivity without objects is then critiqued. We need ethics based on an ontology that is rooted in actual human experience; this provides better guidance for evaluating policy proposals. The paper concludes by discussing the affinity of classical pragmatism with different approaches to political economy and policy.

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  • Clifford Poirot, 2008. "Is Pragmatism Good for Anything? Towards a Theory of Impractical Economics," Forum for Social Economics, Taylor & Francis Journals, vol. 37(1), pages 61-76, January.
    • Handle: RePEc:taf:fosoec:v:37:y:2008:i:1:p:61-76
    DOI: 10.1007/s12143-008-9013-x
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    References listed on IDEAS

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    1. Hilary Putnam, 2003. "For Ethics and Economics without the Dichotomies," Review of Political Economy, Taylor & Francis Journals, vol. 15(3), pages 395-412.
    2. Sheila C. Dow, 2002. "Historical reference: Hume and critical realism," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 26(6), pages 683-695, November.
    3. Tony Lawson, 2006. "The nature of heterodox economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(4), pages 483-505, July.
    4. Clifford Poirot, 2007. "How Can Institutional Economics Be an Evolutionary Science?," Journal of Economic Issues, Taylor & Francis Journals, vol. 41(1), pages 155-179, March.
    5. Vivian Walsh, 2003. "Sen after Putnam," Review of Political Economy, Taylor & Francis Journals, vol. 15(3), pages 315-394.
    6. James L. Webb, 2002. "Dewey: Back to the Future," Journal of Economic Issues, Taylor & Francis Journals, vol. 36(4), pages 981-1003, December.
    7. Amartya Sen, 2005. "Walsh on Sen after Putnam," Review of Political Economy, Taylor & Francis Journals, vol. 17(1), pages 107-113.
    8. D. Wade Hands, 2004. "On Operationalisms and Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 38(4), pages 953-968, December.
    9. Thorstein Veblen, 1898. "Why is Economics Not an Evolutionary Science?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 12(4), pages 373-397.
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