Economics has always had an unstable reputation in the academic world as well as in the public eye. Some consider economists to be scientists while others see them as disguised ideologues. The resulting insecurity of their discipline's status has driven economists continually to redefine its scope, methods, and content.

Since the 1930s economists have increasingly emphasized the scientific, quantitative side of their field, which has directed research to topics that can be elaborated through mathematical models. Economist Melvin Reder argues that this ongoing historical shift has been the result of pressure from two directions: from society's demand that expert advice be based on "scientific findings," and from economists themselves, who have wanted to view their own profession as a science. This book describes the profession of economics as it has developed in response to these challenges.

The diversity of the responses points to persistent internal disagreements within the economics community about its proper scope and methods. These disagreements, in turn, have led to incompatible proposals for the direction of research and divergent recommendations for public policy. Although Reder does not pretend to resolve these difficulties, he appraises different arguments and demonstrates how they have influenced both economists' behavior and public esteem for the profession. While recognizing that serious questions remain about economics's scientific status and practical utility, this book shows where economics has obtained practically usable results and where its fruits have been limited to elaboration of analytical constructions of uncertain applicability.

"[A] fascinating account of the sociology and philosophy of a profession. . . . This is an important book about an important field."—John L. Casti, New Scientist

About the Author

Melvin W. Reder is the Isidore and Gladys J. Brown Professor Emeritus in the Graduate School of Business at the University of Chicago. He is the author of Studies in the Theory of Welfare Economics and Labor in a Growing Economy.

"About this title" may belong to another edition of this title.

Store Description

Lot O'Books is a book company that primarily sells online through some of the biggest book retailers in the world. Our specialty is non-fiction books.

Visit Seller's Storefront

Seller's business information

Book Kona LLC
3428 PLUM CRES, Virginia Beach, VA, 23453, U.S.A.

Sale & Shipping Terms

Terms of Sale

Refund Rules
We accept returns. In no case will we refund original shipping cost & cost of shipping for the buyer to return the book. We only refund original shipping cost when applicable. We do not refund cost of shipping to the buyer for returning the book.

Shipping Terms

All orders are processed and shipped within 48 hours of receipt. If shipping is underpriced we will contact you for additional payment.

Shipping rates within U.S.A.

Shipping rates within U.S.A.
Order quantity	5 to 14 business days	3 to 6 business days
First item	US$ 4.99	US$ 10.99

Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.