philosophy of economics

Related Overviews

Adam Smith (1723—1790) moral philosopher and political economist

labour theory of value

Karl Marx (1818—1883) revolutionary and thinker

protestant ethic

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'philosophy of economics' can also refer to...

economics, philosophy of

economics, philosophy of

economics, philosophy of

Introduction: The New Philosophy of Economics

The Oxford Handbook of Philosophy of Economics

The Philosophy and Economics of Market Socialism A Critical Study

Realist Philosophy of the social sciences and economics: a critique

MORGAN, Mary Susanna - Professor of the History and Philosophy of Economics, London School of Economics and Political Science, University of London, since 1999

KEIRSTEAD, Wilfred Currier (1871 - 1944), Professor of Philosophy and Economics, University of New Brunswick, NB, Canada, 1908–31; Philosophy and Education, 1931–44

BACKHOUSE, Roger Edward (born 1951), Professor of the History and Philosophy of Economics, University of Birmingham, since 1996

HARDIE, (Charles) Jeremy (Mawdesley) (born 1938), Research Associate, Centre for Philosophy of Natural and Social Sciences, London School of Economics, since 2000

SEN, Amartya Kumar (born 1933), Professor of Economics and Philosophy and Lamont University Professor, Harvard University, 1988–98 and since 2004 (Emeritus Professor, 1998–2003)

WOLF, Abraham (1876 - 1948), sometime Fellow of St John’s College, Cambridge; Fellow of University College, London; Professor Emeritus of Logic and Scientific Method in the University of London (Head of the Department of the History and Method of Science at University College, London, and of the Department of Logic and Philosophy at the London School of Economics and Political Science), retd 1941; Co-Editor of the Encyclopædia Britannica (14th ed.); Member of Senate and of the Academic and External Councils of the University of London till 1944; Dean of the Faculty of Economics and Political Science, 1938–41; Governor of Haberdashers’ Aske’s Schools, 1935–41; Examiner in Philosophy in the University of London, 1915, in the University of Oxford, 1922; sometime Member Executive Committee Aristotelian Society; Member Executive Committee International Congress of Philosophy, London, 1915, and President elect of the Section on Logic and Scientific Method


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The basic questions of economics blend with those of political philosophy and ethics. Perhaps the most fundamental concern is whether we can compare and measure different levels of well-being in economic terms, given that the sources of value are diverse, and only partially concerned with economic activity. Other problems include the difficulties of achieving a social welfare function, and of understanding the conception of the free economic agent who exercises choices in the market. See also labour theory of value, Marx, Protestant work ethic, Smith.

Subjects: Philosophy.

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