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Theoretical and Practical Reason in Economics

Capacities and Capabilities

  • Book
  • © 2013

Overview

Authors:
  1. Ricardo F. Crespo

    1. , Department of Economics, IAE, Universidad Austral, Pilar, Argentina

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  • A timely reflection on the fundamentals of economics in the light of the current financial and economic global crisis
  • Builds on elements from Nancy Cartwright and Amartya Sen, to propose a way of defining concepts and making decisions about development
  • Suggests the development of normative models of mechanisms to obtain development objectives through practical reason or public discussion
  • Includes a useful discussion on ways to improve the Indexes of the United Nations Development Program?
  • Includes supplementary material: sn.pub/extras

Part of the book series: SpringerBriefs in Philosophy (BRIEFSPHILOSOPH)

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Table of contents (6 chapters)

  1. Front Matter

    Pages i-ix
    Download chapter PDF

  2. Introduction

    • Ricardo F. Crespo
    Pages 1-14

  3. Nancy Cartwright, Capacities and Nomological Machines. The Role of Theoretical Reason in Science

    • Ricardo F. Crespo
    Pages 15-37

  4. Sen’s Capability Approach: The Role of Practical Reason in Social Science

    • Ricardo F. Crespo
    Pages 39-53

  5. The Contributions of Aristotle’s Thought to the Capability Approach

    • Ricardo F. Crespo
    Pages 55-79

  6. Socio-Economic Machines and Practical Models of Development: The Role of the HDI

    • Ricardo F. Crespo
    Pages 81-104

  7. Conclusion: Theoretical and Practical Reason in Economics

    • Ricardo F. Crespo
    Pages 105-109
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Keywords

About this book

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.​

Authors and Affiliations

  • , Department of Economics, IAE, Universidad Austral, Pilar, Argentina

    Ricardo F. Crespo

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