An Interview with Philip Mirowski

Abstract

In this interview, Philip Mirowski, a foremost economic historian and philosopher of economic thought, discusses his research into the history of economics along with its complex relationship to the natural sciences and the recent rise of neoliberalism. The conversation starts by focusing on his early work on the birth of neoclassical economics as an imitation of modern physics via energetic metaphors. We also discuss the subsequent impact of the computer metaphor and its influence on post-Second World War economic theory. Some of the most important aspects of the informational turn in economics are discussed, such as the understanding of the market processes as a form of computation and the shift from a concern with the nature of the individual agent to the institutional framework of markets. This inevitably leads us to Mirowski’s recent work, where he takes the informational turn in economics to its ultimate conclusions, arguing for an algorithmic understanding of markets. He calls this a theory of markomata, or a computational evolutionary economics. Finally, the discussion addresses the interdependencies between the general understanding of markets as superior information processors, the rise of neoliberalism and the recent financial crisis.