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'Practical comparability' and ends in Economics

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  • Ricardo F. Crespo

Abstract

This paper endeavours to summarize a variety of arguments for a reconsideration of ends in Economics. The logical structure of the rationality of ends (practical rationality) differs from the one of means (instrumental rationality). The paper sets out to explain the differences between both rationalities and some of the implications of incorporating this new emphasis on ends, given that Economics adopts the means rationality. The emergence of the topics of incommensurability and incomparability of ends is presented and a possible way to tackle it is suggested. Finally, some implications for Economics are drawn. This article emphasizes the importance of incorporating practical rationality into economic analysis. The arguments of the paper are built on Aristotelian grounds.

Suggested Citation

  • Ricardo F. Crespo, 2007. "'Practical comparability' and ends in Economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(3), pages 371-393.
    • Handle: RePEc:taf:jecmet:v:14:y:2007:i:3:p:371-393
    DOI: 10.1080/13501780701562492
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    References listed on IDEAS

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    1. John B. Davis & Alain Marciano & Jochen Runde (ed.), 2004. "The Elgar Companion To Economics and Philosophy," Books, Edward Elgar Publishing, number 2696.
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    Cited by:

    1. Pietro Guarnieri, 2017. "Commitment to norms and the formation of institutions," Discussion Papers 2017/227, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    2. Ricardo Crespo & Belén Mesurado, 2015. "Happiness Economics, Eudaimonia and Positive Psychology: From Happiness Economics to Flourishing Economics," Journal of Happiness Studies, Springer, vol. 16(4), pages 931-946, August.

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