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History of Economic Thought chapter 6 summary
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A summary of the sixth section (6) of the subject History of economic thought at the University of the book Economic Methodology.
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Methodology week 6 CHAPTER 6A rhetoric approach to methodology draws on thinking about science and knowledge that has its
origins outside economics and science. More so upon history and literature (it is a non-science based
approach). This falls under the umbrella labeling “Post modernism”. An additional development in
this area is called pluralism, which holds that multiple views can be obtained for the same issue at
the same time.
Rhetoric approach
Is concerned with the methods of argumentation and reasoning i.e. discursive practices. Classical
rhetoric as a means of persuasion has three dimensions:
Logos: (words) clarity and consistency of a message – the logic of its reason.
Pathos: (experience) appeal to emotions and imagination.
Ethos: (character) trustworthiness or credibility.
Initially only logos was examined but the recognition of pathos and ethos spurred on a rhetorical
exaimination of science. The rhetoric approach introduces a psychological aspect to the method of
the development of theories and models in economics. First a social structure within a science is
uncovered in which ideas are circulated. Then its relationship with individual scientist is examined i.e.
are articles more likely to be believed if a prestigious name is attached (argument from authority).
Deirdre McCloskey primarily pushed the approach with as goals to promote the reflection on how
economists used persuasion and as critique to positivism. Positivism, which she equates to
modernism, is the view that science develops through logic and evidence and is primarily based on
predictive qualities. Economics uses literary methods as its rhetorical device namely analogy’s and
metaphors. An analogy provides economic statements in more familiar terms, but clearly insinuates
something. A metaphor is similar to an analogy but adds another dimension by helping
understanding using comparison. McCloskey later compared economic rhetoric to storytelling, as
economists used story like introductions to introduce and substantiate their models.
More of McCloskey’s critiques of positivism:
Positivism regards that logic and evidence are the foundations on which knowledge rests. But
McCloskyeys holds the rhetoric view that it is only dependent on who can persuade who and
so there is no structure due to the nature of changing views.
Pluralism is the notion of how we understand meaning. The meanings of terms expressed in
language change continually as they are dependent on context. It opposed the view that
meaning is singular i.e. only one interpretation possible. Pluralism essentially proceeds from
the idea of the absence of a foundation of knowledge.
This constant dynamic element in knowledge develops through “conversations between economists”
i.e. the exchange of journals and presentations. McCloskey bases her view on rhetoric approach on
the method in which these conversations are held. She holds that they should be held like civil
conversations.
Post modernism
Post modernism is a broad cross-disciplinary movement that questions many of the basic
assumptions and principles that have been part of western culture and society since the time of the
eighteenth entry enlightenment (these refer to modernism). Post-modernism stems from post-
structuralism, who rejected all notions of certainty and logic. Post-modernism goes hand in hand
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