Abstract
Friedman's philosophical view has been the object of several, sometimes contradictory, interpretations. Whatever the interpretation, a specific aspect of Friedman's methodological and epistemological framework has been overlooked: Friedman's adherence to the neo-Bayesian interpretation of probability and induction. This paper, by rectifying this oversight, claims that Friedman's instrumentalism was a pioneering attempt to introduce a blend of positivism, pragmatism, and ‘radical probabilism’ into economic analysis. From this angle Friedman's philosophical work emerges as a contribution to the debate over the ontological status of scientific entities and theories as well as to the methodology of economics.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
