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http://ssrn.com/abstract=881780
 
 

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Man as Machine: The Plight of 20th Century Economics


Peter J. Boettke


George Mason University - Department of Economics

Christopher J. Coyne


George Mason University - Department of Economics

Peter T. Leeson


George Mason University - Department of Economics


Annals of the Society for the History of Economic Thought, , Vol. 43, pp. 1-10, June 2003

Abstract:     
We argue that in the 20th century economic theory took a path that purged human actors from economic analysis. We describe this evolution as the result of four competing visions in economics: the analytic narrative approach pursued by the classical economists, New Institutional Economics, and Austrian economics, the approach of the old institutional economics, the approach of modern neoclassical economics, and an approach that blended neoclassical economics with a particular form of game theory, which we call formalistic historicism. We contend that only the first of these visions is consistent with acting man as the center of economic analysis. Movement back to human-centered economics requires a return to this vision.

Number of Pages in PDF File: 10

Keywords: A14, B20, B52, B53

JEL Classification: Evolution of Economics, Methodology, Praxeology

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Date posted: February 8, 2006 ; Last revised: February 27, 2012

Suggested Citation

Boettke, Peter J. and Coyne, Christopher J. and Leeson, Peter T., Man as Machine: The Plight of 20th Century Economics. Annals of the Society for the History of Economic Thought, , Vol. 43, pp. 1-10, June 2003. Available at SSRN: http://ssrn.com/abstract=881780

Contact Information

Peter J. Boettke (Contact Author)
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)
Christopher J. Coyne
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
Peter T. Leeson
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
HOME PAGE: http://www.peterleeson.com
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