Eric Schliesser

This paper argues that history of economics has a fruitful, underappreciated role to play in the development of economics, especially when understood as a policy science. This goes against the grain of the last half century during which economics, which has undergone a formal revolution, has distanced itself from its `literary' past and practices precisely with the aim to be a more successful policy science. The paper motivates the thesis by identifying and distinguishing four kinds of reflexivity in economics. The main thesis of this paper is that because these forms of reflexivity are not eliminable, the history of economics must play a constitutive role in economics. An assumption that I clarify in this paper is that the history of economics ought to be part of the subject matter studied by economics when they are interested in policy science. Even if one does not accept the conclusion, the fourfold classification of reflexivity might hold independent interest. The paper is divided in two parts. First, by reflecting on the writings of George Stigler, Paul Samuelson, George and Milton Friedman, I offer a stylized historical introduction to and conceptualization of the themes of this paper. In particular, I identify various historically influential arguments and strategies that reduced the role of history of economics within the economics discipline. In it I also canvass six arguments that try to capture the cost to economics for sidelining the history of economics from within the discipline. A sub-text of the introduction is that for contingent reasons, post World War II economics evolved into a policy science. Second, by drawing on the work of Kenneth Boulding, in particular, George Soros, Thomas Merton, Gordon Tullock, I distinguish between four species of reflexivity. These are used to then strengthen the argument for the constitutive role of the history of economics within the economics profession. In particular, I argue that so-called Kuhn-losses are especially pernicious when faced with policy choices under so-called Knightian uncertainty

Our modern-day word for sympathy is derived from the classical Greek word for fellow-feeling. Both in the vernacular as well as in the various specialist literatures within philosophy, psychology, neuroscience, economics, and history, "sympathy" and "empathy" are routinely conflated. In practice, they are also used to refer to a large variety of complex, all-too-familiar social phenomena: for example, simultaneous yawning or the giggles. Moreover, sympathy is invoked to address problems associated with social dislocation and political conflict. It is, then, turned into a vehicle toward generating harmony among otherwise isolated individuals and a way for them to fit into a larger whole, be it society and the universe.This volume offers a historical overview of some of the most significant attempts to come to grips with sympathy in Western thought from Plato to experimental economics. The contributors are leading scholars in philosophy, classics, history, economics, comparative literature, and political science. Sympathy is originally developed in Stoic thought. It was also taken up by Plotinus and Galen. There are original contributed chapters on each of these historical moments. Use for the concept was re-discovered in the Renaissance. And the volume has original chapters not just on medical and philosophical Renaissance interest in sympathy, but also on the role of antipathy in Shakespeare and the significance of sympathy in music theory. Inspired by the influence of Spinoza, sympathy plays a central role in the great moral psychologies of, say, Anne Conway, Leibniz, Hume, Adam Smith, and Sophie De Grouchy during the eighteenth century. The volume should offers an introduction to key background concept that is often overlooked in many of the most important philosophies of the early modern period.About a century ago the idea of Einfühlung (or empathy) was developed in theoretical philosophy, then applied in practical philosophy and the newly emerging scientific disciplines of psychology. Moreover, recent economists have rediscovered sympathy in part experimentally and, in part by careful re-reading of the classics of the field.

It is argued that Adam Smith criticizes David Hume's account of the origin of and continuing adherence to the rule of law for being not sufficiently Humean. Hume explained that adherence to the rule of law originated in the self-interest to restrain self-interest. According to Smith, Hume does not pay enough attention to the passions of resentment and admiration, which have their source in the imagination. Smith's offers a more naturalistic and evolutionary account of the psychological pre-conditions of the establishment and morality of justice than Hume had. Yet, Smith's account also makes room for a thin conception of Lockean natural right to property, while rejecting the contractualist and rationalistic elements in Locke. It emerges that Smith severs the intimate connection that Hobbes and Hume made between justice and property

This chapter explains what Isaac Newton means with the phrase “absolute, true, and mathematical time” in order to discuss some of the philosophic issues that it gives rise to. It describes Newton's thought in light of a number of scientific, technological, and metaphysical issues that arose in seventeenth‐century natural philosophy. The first section discusses some of the relevant context from the history of Galilean, mathematical natural philosophy, especially as exhibited by the work of Christiaan Huygens. The second section offers a close reading of what Newton says about time in the Principia's Scholium to the definitions. It argues that Newton allows us to conceptually distinguish between “true” and “absolute” time from the vantage point of Newton's dynamics. The third section, in the context of a brief account of Descartes' views on time, discusses the material that Newton added to the second edition of the Principia in the General Scholium.