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Andrea Borghini

The Logic of Uncertainty

By , About.com Guide   January 28, 2012

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Economy has been down for quite some time now and the situation is very uncertain. Should we expect more hard times to come or did we reach the bottom? How to prevent a recession?

Economics is hardly a science of certainty, despite all the numbers that economists may throw at us. From a philosophical standpoint economics harbors some deep questions span across different areas: from the logic of economic thinking to the structure of economic theorizing as studied by philosophers of science, from the epistemic problem of induction to the understanding of how news spread across economists through linguistic and non linguistic conventions.

Despite this wealth of philosophical issues surrounding economics (after all, some of the earliest modern economists such as Adam Smith and Karl Marx had a training in philosophy), it is rare to see philosophers being interviewed regarding the puzzling economic situation. Are philosophers to blame for this? What role can philosophers play in understanding the economic challenges of contemporary global society?

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