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Academic discipline of economics as hedonist philosophy

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  • Tiago Cardão-Pito

    (ULISBOA - Universidade de Lisboa = University of Lisbon = Université de Lisbonne)

Abstract

Contemporary mainstream economics cannot be seen as disconnected from philosophical concerns. On the contrary, it should be understood as a defence for a specific philosophy, namely, crude quantitative hedonism where money would measure pleasure and pain. Disguised among a great mathematical apparatus involving utility functions, supply, and demand, lies a specific hedonist philosophy that every year is lectured to thousands of economic and business students around the world. This hedonist philosophy is much less sophisticated than that in ancient hedonist philosophers as Epicurus or Lucretius. Furthermore, it does not solve any of the systematic difficulties regularly faced by hedonist philosophy. However, the argument that economics is detached from philosophy works as a rhetorical artifice to protect its dominant underlying philosophy: Philosophical disputes would have to be addressed within the biased mathematical apparatus of quantitative hedonism. Economists and business students must learn to identify the underlying philosophy in mainstream economics and alternative philosophical systems.

Suggested Citation

  • Tiago Cardão-Pito, 2021. "Academic discipline of economics as hedonist philosophy," Post-Print hal-03414847, HAL.
    • Handle: RePEc:hal:journl:hal-03414847
    DOI: 10.46298/jpe.8668
    Note: View the original document on HAL open archive server: https://hal.science/hal-03414847
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    References listed on IDEAS

    as
    1. Tiago Cardao-Pito, 2016. "A Law for the Social Sciences Regarding Us Human Beings," Journal of Interdisciplinary Economics, , vol. 28(2), pages 202-229, July.
    2. Arne Heise, 2018. "Reclaiming the University: transforming economics as a discipline," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 11(2), pages 37-66, May.
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    4. Hausman,Daniel M., 2008. "The Philosophy of Economics," Cambridge Books, Cambridge University Press, number 9780521883504, September.
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    7. Mariusz Maziarz, 2019. "The unrealistic realist philosophy. The ontology of econometrics revisited," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 13(1), pages 39-64, November.
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    10. Tiago Cardao-Pito, 2017. "Organizations as Producers of Operating Product Flows to Members of Society," SAGE Open, , vol. 7(3), pages 21582440177, August.
    11. Hausman,Daniel M., 2008. "The Philosophy of Economics," Cambridge Books, Cambridge University Press, number 9780521709842, September.
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    More about this item

    Keywords

    hedonism; quantitative hedonism; qualitative hedonism; rhetorical artifice; hedonist economic theory; utilitarianism; labour based economic theory;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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