Of Positivism and the History of Economic Thought

Abstract

The rhetoric of positivism had a profound effect on the worldview and practice of economists in the middle of the last century. Though this influence has greatly diminished, it still may be found in the attitude of many economists towards the history of their discipline. This paper traces the effects of positivism in economics, then argues that the history of economics is a critical component of both the undergraduate teaching and the graduate training of economists, and that as such, it should be reintroduced into the economics curriculum. It concludes by documenting some recent hopeful signs of change

Keywords: positivism, history of economic thought, history of economics, economic methodology, undergraduate education, graduate education, Hayek

JEL Classification: A11, A12, A22, A23, B0, B1, B2, B3, B4