Knowledge and Persuasion in Economics

Donald McCloskey's previous books, The Rhetoric of Economics and If You're So Smart, aimed to bring economics back into the wider conversation of the day. In Knowledge and Persuasion in Economics he carries the conversation further, into the seminars of philosophers. His message is that economics is a science, but a human science. It is properly mathematical, but literary too. His book is highly unusual: a work of technical economics that can be read by anyone, a witty guide to the ins and outs of economic philosophy expressed in plain English.

Is economics a science? Deidre McCloskey says 'Yes, but'. Yes, economics measures and predicts, but - like other sciences - it uses literary methods too. Economists use stories as geologists do, and metaphors as physicists do. The result is that the sciences, economics among them, must be read as 'rhetoric', in the sense of writing with intent. McCloskey's books, The Rhetoric of Economics(1985) and If You're So Smart(1990), have been widely discussed. In Knowledge and Persuasion in Economics he converses with his critics, suggesting that they too can gain from knowing their rhetoric. The humanistic and mathematical approaches to economics, says McCloskey, fit together in a new 'interpretive' economics. Along the way he places economics within the sciences, examines the role of mathematics in the field, replies to critics from the left, right and centre, and shows how economics can again take a leading place in the conversation of humankind.

Part I. Exordium: 1. A positivist youth; 2. Kicking the dead horse; Part II. Narration: 3. Economics in the human conversation; 4. The rhetoric of economics; Part III. Division: 5. The Science word in economics; 6. Three ways of reading economics to criticize itself; 7. Popper and Lakatos: thin ways of reading economics; 8. Thick readings: ethics, economics, sociology and rhetoric; Part IV. Proof: 9. The rise of a scientistic style; 10. The rhetoric of mathematical formalism: existence theorems; 11. General equilibrium and the rhetorical history of formalism; 12. Blackboard Marxism; 13. Formalists as poets and politicians; Part V. Refutation: 14. The very idea of epistemology; 15. The tu quoque argument and the claims of rationalism; 16. Armchair philosophy of economics: Rosenberg and Hausman; 17. Philosophy of science without epistemology: the Popperians; 18. The Rosenberg: reactionary modernism; 19. Methodologists of economics, big-M and small; 20. Getting 'rhetoric': Mark Blaug and the Eleatic Stranger; 21. Coats/McPherson/Friedman: anti-meta-post-modernism; 22. Splenetic rationalism, Austrian style; 23. The economists of ideology: Heilbroner, Rossetti, and Mirowski; 24. Rhetoric as morally radical; Part VI. Peroration: 25. The economy as a conversation; 26. The consequences of rhetoric.

Deidre McCloskey's new book is highly unusual: a work of technical economics that can be read by anyone, a witty guide to the ins and outs of economic philosophy expressed in plain English.