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The "solitude of the reformist" Public Policy and Value Judgments in the Work of Federico Caffè

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  • Paolo Ramazzotti

    (University of Macerata)

Abstract

Caffè's pursuit of a more humane society is strictly related to his view of the economy as a human construction within a more encompassing historical process. Based on this view, he conceives of economics as a policy-oriented social science where value judgments play a crucial role. They frame the questions that need to be answered in order to carry out purposeful change. They also structure the analysis, thus the way questions are answered. A commonly shared understanding of the economy is, therefore, unlikely. Although this would seem to undermine Caffè's view that a "reasonable core" in economic thought exists, the paper -based on methodological premises that differ, to some extent, from those of Caffè- contends that disciplinary dialogue remains possible provided economists acknowledge the need to make their methodological value judgments explicit.

Suggested Citation

  • Paolo Ramazzotti, 2010. "The "solitude of the reformist" Public Policy and Value Judgments in the Work of Federico Caffè," Working Papers 63-2010, Macerata University, Department of Finance and Economic Sciences, revised Dec 2010.
    • Handle: RePEc:mcr:wpdief:wpaper00063
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    References listed on IDEAS

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    1. Sheila C. Dow, 1996. "The Methodology of Macroeconomic Thought," Books, Edward Elgar Publishing, number 933, June.
    2. Chick, Victoria & Dow, Sheila C, 2001. "Formalism, Logic and Reality: A Keynesian Analysis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(6), pages 705-721, November.
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