I, Roboticus Oeconomicus The philosophy of mind in economics, and why it matters

Brendan Markey-Towler

Cambridge Journal of Economics, 2017, vol. 41, issue 1, 203-237

Abstract: In this essay I seek to introduce the philosophy of mind to economics, and investigate what presuppositions economists make vis-à-vis the philosophy of mind in their theorising with a focus on the model-based theoretical paradigms within economics. I argue that most economists adhere to what John Searle has termed an ‘artificial intelligence’ view of mental processes, to varying degrees of strength. I also argue that adherence, knowing or unknowing, to a particular philosophy of mind can have profound effects on the ontology of the economy, which is implied as a logical consequence of such philosophy, either binding us to a ‘clockwork’ view of the universe or to a non-deterministic one in which fundamental uncertainty exists.

Keywords: Philosophy of mind; Economic theory; Economic behaviour; Schools of economics; Determinism (search for similar items in EconPapers)
JEL-codes: A1 A12 B40 C00 D01 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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