The Methodology of positive economics: reflections on the Milton Friedman legacy

Abstract

List of figures List of tables List of contributors Preface Part I. The Classical Essay in 20th Century Economic Methodology: The methodology of positive economics (1953) Milton Friedman Part II. Reading and Writing a Classic: 1. Reading the methodological essay in twentieth century economics: map of multiple perspectives Uskali Maki 2. Early drafts of Friedman's methodology essay J. Daniel Hammond 3. Unrealistic assumptions and unnecessary confusions: rereading and rewriting F53 as a realist statement Uskali Maki Part III. Models, Assumptions, Predictions, Evidence: 4. The influence of Friedman's methodological essay on economics Tom Mayer 5. Did Milton Friedman's methodology license the formalist revolution? D. Wade Hands 6. Appraisal of evidence in economic methodology Melvin Reder 7. The politics of positivism: disinterested predictions from interested agents David Teira Serrano and Jesus Zamora Bonilla Part IV. Theoretical Context: Firm, Money, Expected Utility, Walras and Marshall: 8. Friedman's 1953 essay and the marginalist controversy Roger Backhouse 9. Friedman (1953) in relation to theories of the firm Oliver Williamson 10. Friedman's selection argument revisited Jack Vromen 11. Expected utility and Friedman's risky methodology Chris Starmer 12. Friedman's methodological stance: causal realism Kevin D. Hoover 13. On the right side for the wrong reason: Friedman on the Marshall-Walras divide Michel De Vroey Part V. Concluding Perspectives: 14. The debate over F53 after 50 years Mark Blaug 15. Final word Milton Friedman References Index.