'Practical comparability' and ends in Economics

Ricardo Crespo

Journal of Economic Methodology, 2007, vol. 14, issue 3, 371-393

Abstract: This paper endeavours to summarize a variety of arguments for a reconsideration of ends in Economics. The logical structure of the rationality of ends (practical rationality) differs from the one of means (instrumental rationality). The paper sets out to explain the differences between both rationalities and some of the implications of incorporating this new emphasis on ends, given that Economics adopts the means rationality. The emergence of the topics of incommensurability and incomparability of ends is presented and a possible way to tackle it is suggested. Finally, some implications for Economics are drawn. This article emphasizes the importance of incorporating practical rationality into economic analysis. The arguments of the paper are built on Aristotelian grounds.

Keywords: ends and means in Economics; instrumental and practical rationalities; incommensurability; incomparability (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (2)

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DOI: 10.1080/13501780701562492

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