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Economics as a Science, Economics as a Vocation: A Weberian Examination of Robert Heilbroner's Philosophy of Economics

Author

Listed:
  • Daniyal Khan

    (Graduate student at the Department of Economics, The New School for Social Research, New York, USA)

Abstract

In an attempt to re-envision economics, the paper analyses Robert Heilbroner's philosophy of economics through the lens of Max Weber's philosophy of science. Specifically, Heilbroner's position on vision, ideology and value-freedom is examined by contextualising it within a framework of Weberian science. Doing so leads to a better understanding of Heilbroner's seemingly contradictory statements about ideology as well as a re-interpretation of his position on the place of value-freedom (or a lack thereof) in economics. This inquiry also leads to a demonstration of (1) the relevance of Weber's work on methodology of science to contemporary issues in economics, and (2) the identification of a major shortcoming in Heilbroner's work. Overall, this leads to a clarification and reconstruction of Heilbroner's vision of economics as a science and as a vocation, which is seen to be a self-reflexive, reflective and dynamic process.

Suggested Citation

  • Daniyal Khan, 2014. "Economics as a Science, Economics as a Vocation: A Weberian Examination of Robert Heilbroner's Philosophy of Economics," Economic Thought, World Economics Association, vol. 3(1), pages 1-56, March.
    • Handle: RePEc:wea:econth:v:3:y:2014:i:1:p:56
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    File URL: http://et.worldeconomicsassociation.org/files/WEA-ET-3-1-Khan.pdf
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    References listed on IDEAS

    as
    1. E Ray Canterbery, 2001. "A Brief History of Economics:Artful Approaches to the Dismal Science," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 4079, February.
    2. Robert L. Heilbroner, 1970. "On the Possibility of a Political Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 4(4), pages 1-22, December.
    3. Hashimzade, Nigar & Myles, Gareth & Black, John, 2017. "A Dictionary of Economics," OUP Catalogue, Oxford University Press, edition 5, number 9780198759430.
    4. Robert Heilbroner, 1993. "Was Schumpeter Right after All?," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 87-96, Summer.
    5. Mark Blaug, 1998. "Disturbing Currents in Modern Economics," Challenge, Taylor & Francis Journals, vol. 41(3), pages 11-34, May.
    6. Mathew Forstater, 2004. "Visions and Scenarios: Heilbroner's Worldly Philosophy, Lowe's Political Economics, and the Methodology of Ecological Economics," Economics Working Paper Archive wp_413, Levy Economics Institute.
    7. Mark Blaug, 2001. "No History of Ideas, Please, We're Economists," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 145-164, Winter.
    8. Robert Heilbroner, 1995. "The Nature of Economics," Challenge, Taylor & Francis Journals, vol. 38(1), pages 22-26, January.
    9. Mathew Forstater, 2004. "Visions and Scenarios: Heilbroner's Worldly Philosophy, Lowe's Political Economics, and the Methodology of Ecological Economics," Method and Hist of Econ Thought 0411002, University Library of Munich, Germany.
    10. Heilbroner, Robert, 1990. "Analysis and Vision in the History of Modern Economic Thought," Journal of Economic Literature, American Economic Association, vol. 28(3), pages 1097-1114, September.
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