Abstract
Economic thought has generated no shortage of urgent philosophical and methodological issues. Does economics make progress? What is the epistemological status of its laws ? What logical relations hold between rival economic theories ? Can a rational choice be made between them ? How do the different branches of economics fit together, and how are they tested ? By and large, informal debate in the philosophy of economics has a poor record in making progress towards resolving these kinds of questions. Even the very concept of ‘competition’ between theories – one of the most central themes in the philosophy of science – has received hardly any clarification where economics is concerned.
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