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Lachmann practiced humanomics, beyond the dogma of behaviorism

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  • Deirdre Nansen McCloskey

    (University of Illinois at Chicago)

Abstract

Ludwig Lachmann knew that economists walked on both feet, the quantitative, positivistic one and the qualitative, humanistic one. He was practicing “humanomics” before the word. Decisions about categories are humanistic, as in philosophy, theology, literary study, mathematics (prime number/not), physics (proton/neutron), and economics (monopoly/competition). Then the field measures, if it gets to it. Lachmann understood, for example, that there is a vital distinction between mere reaction to price stimulus (thus De Gustibus) and true, free human action. For example, he was properly hostile to the Northian/Samuelsonian account of institutions as mere rules of the game. And he would have approved of an account of the Great Enrichment 1800 to the present that features language and persuasion and human creativity.

Suggested Citation

  • Deirdre Nansen McCloskey, 2019. "Lachmann practiced humanomics, beyond the dogma of behaviorism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 32(1), pages 47-61, March.
    • Handle: RePEc:kap:revaec:v:32:y:2019:i:1:d:10.1007_s11138-017-0404-1
    DOI: 10.1007/s11138-017-0404-1
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    References listed on IDEAS

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    Cited by:

    1. Marcus Shera & Kacey Reeves West, 2024. "Two worlds collide: A review essay of Humanomics: moral sentiments and the wealth of nations for the twenty-first century," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 37(3), pages 333-349, September.

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    More about this item

    Keywords

    Lachmann; Austrian economics; Humanomics; Positivism; Economic growth; Great enrichment;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines

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