Who is the author of 'More Heat Than Light'?

The author of 'More Heat Than Light' is Philip Mirowski.

What are the main themes in 'More Heat Than Light'?

The main themes in 'More Heat Than Light' include Philosophy, Business and Economics, Social Commentary, Economic Policy.

What genre is 'More Heat Than Light'?

'More Heat Than Light' is categorized as Business and Economics, Philosophy.

What is the main argument of 'More Heat Than Light'?

The main argument of 'More Heat Than Light' by Philip Mirowski is an exploration of the relationship between economics and physics, particularly how economic theories have been influenced by the concepts and metaphors from the field of thermodynamics. Mirowski argues that economic ideas have borrowed heavily from scientific principles, particularly regarding concepts such as equilibrium and energy transfer, yet these applications have often been distorted and misused within economics. The book critically examines the validity of these analogies and the implications they have for economic thought and practice.

How does Philip Mirowski address the relationship between economics and physics in the book?

In 'More Heat Than Light', Philip Mirowski critically examines the parallels drawn between economics and physics, particularly the influence of physical theories on economic thought. He argues that many economic concepts have been heavily borrowed from physics, especially in the context of mathematical modeling and the use of thermodynamics as a metaphor for economic processes. Mirowski highlights the limitations and dangers of such analogies, advocating for a more nuanced understanding of economics that recognizes its distinct principles and complexities, rather than merely mimicking physical science. He explores how this relationship has shaped both the history of economic thought and contemporary economic practices.

What themes are explored in 'More Heat Than Light'?

'More Heat Than Light' by Philip Mirowski explores several key themes, including: The Relationship Between Economics and Physics: The book examines how economic theories have been influenced by concepts from thermodynamics and statistical mechanics, showcasing the interconnections between these disciplines. Scientific Approach to Economics: Mirowski challenges the idea that economics can be considered a science like the natural sciences, delving into the implications of applying scientific principles to social science. Market Dynamics and Equilibrium: The author explores notions of equilibrium and market dynamics, investigating how these concepts from physics are utilized in economic theory and what this says about understanding markets. Critique of Neoclassical Economics: Mirowski offers a critique of neoclassical economics, particularly its reliance on mathematical modeling drawn from physical sciences and the limitations of this approach in capturing human behavior. Philosophical Reflections on Scientific Method: The book reflects on the philosophy of science and the extent to which scientific methods can be applied to social sciences, raising questions about the validity of such approaches. Historical Context: The themes also include a historical perspective on how economic thought has evolved in relation to scientific discoveries in physics, providing a narrative that connects economic theories to broader intellectual movements.

Can you explain how Mirowski critiques the use of scientific metaphors in economics?

In 'More Heat Than Light,' Philip Mirowski critiques the use of scientific metaphors in economics by arguing that economists often borrow concepts and language from the natural sciences without a proper understanding or justification of their applicability to social phenomena. Mirowski contends that these metaphors—such as equilibrium, thermodynamics, and statistical mechanics—are used inappropriately, leading to misleading models and assumptions about economic behavior. He asserts that such metaphors can obscure the complex social realities and dynamics that do not fit neatly into the deterministic frameworks of the natural sciences. Mirowski emphasizes that instead of enhancing the rigor of economic theories, these scientific metaphors can create a facade of precision and empirical validity that masks the underlying uncertainties and subjective dimensions of economic life.

What insights does the book provide about the implications of economic theories on real-world policies?

'More Heat Than Light' by Philip Mirowski explores the relationship between economic theories and their impact on real-world policies, highlighting several key insights: Theory vs. Reality: Mirowski argues that economic theories often operate in a realm disconnected from empirical reality. He critiques the abstraction and mathematical modeling in economics that can lead to policies which may not effectively address real-world issues. The Role of Metaphors: The book discusses how economic theories utilize metaphors that shape policy-making. These metaphors can limit thinking and lead to misguided policies that do not account for the complexities of human behavior and societal dynamics. Historical Context: Mirowski places economic theories within their historical context, showing how the development of these theories has been influenced by political and social factors, which in turn impact policy decisions. Consequences of Neoliberalism: The author critiques the rise of neoliberal economic policies, demonstrating how reliance on market-based approaches can exacerbate inequalities and lead to negative social outcomes. Call for Interdisciplinary Approaches: The book advocates for integrating insights from other disciplines, such as psychology and sociology, into economic thinking to create more holistic and effective public policies. Through these insights, Mirowski emphasizes the need for critical evaluation of economic theories and their effects on policy-making, warning against the dangers of dogmatic adherence to abstract economic models.

More Heat Than Light

In 'More Heat Than Light', Philip Mirowski takes readers on a captivating journey through the tangled relationship between economics and physics. He uncovers how the methodologies of these two fields intertwine, sparking fascinating debates about knowledge and power. Mirowski challenges conventional wisdom, inviting us to reconsider the ways we apply scientific principles to economic theory. In a world obsessed with data and models, his insights prompt a critical examination of the credibility of economic assertions. This thought-provoking read will leave you questioning the very foundations of both disciplines and their impact on society.

By Philip Mirowski

Published: 1991

""In a world where knowledge is currency, the greatest wealth is found in the pursuit of understanding that transcends light and heat.""

Business and Economics Philosophy Social Commentary Economic Policy

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The development of the energy concept in Western physics and its subsequent effect on the emergence of neoclassical economics are traced to reveal how economics has sought to emulate physics, especially with regard to the theory of value.

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Key Points from More Heat Than Light

In "More Heat Than Light," Philip Mirowski explores the intricate relationship between economics and physics, demonstrating how methodologies and conceptual frameworks from physics have influenced economic theory. One striking example Mirowski presents is the use of thermodynamics analogies in economic models. In particular, he points to the conceptual borrowings from statistical mechanics, which led to the development of equilibrium theories in economics. Mirowski argues that these analogies allowed economists to frame complex social phenomena through the lens of physical laws, such as entropy and energy conservation, raising critical questions about whether these scientific principles are genuinely applicable to economic systems, which are inherently more chaotic and subject to human agency. The significance of this interdisciplinary connection lies in its implications for the legitimacy of economic science; it challenges the assumption that the methodologies derived from the natural sciences can be directly transplanted to social sciences without modification. This inquiry into the boundaries and overlaps of disciplines contributes to the book's broader theme of skepticism regarding the intellectual rigor of economic theories. Mirowski's analysis also highlights the historical context of the 20th century, particularly during the rise of neoclassical economics, where borrowing from physics seemed to offer a veneer of scientific authority, ultimately questioning the epistemic foundations of economics itself.

About the Author

Philip Mirowski

Philip Mirowski is an influential philosopher of economics and the history and philosophy of science. He is known for his critical analysis of economic theory and its implications for public policy and philosophy. Mirowski has authored several notable works, including 'Machine Dreams: Economics Becomes a Cyborg Science' and 'Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown.' His writing style combines rigorous academic scholarship with accessible prose, making complex ideas in economics relatable to a broader audience. Mirowski critiques the assumptions underlying traditional economic models while emphasizing the importance of social and political contexts in shaping economic thought.

Book Details

Key information about the book.

Authors: Philip Mirowski
Published: November 1991
Publisher: Cambridge University Press
ISBN: 0521426898
Language: English
Pages: 468
Genres: PhilosophyBusiness and EconomicsSocial CommentaryEconomic Policy

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“"In a world where knowledge is currency, the greatest wealth is found in the pursuit of understanding that transcends light and heat."”

More Heat Than Light

By Philip Mirowski

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Key Points from More Heat Than Light

In "More Heat Than Light," Philip Mirowski explores the intricate relationship between economics and physics, demonstrating how methodologies and conceptual frameworks from physics have influenced economic theory. One striking example Mirowski presents is the use of thermodynamics analogies in economic models. In particular, he points to the conceptual borrowings from statistical mechanics, which led to the development of equilibrium theories in economics. Mirowski argues that these analogies allowed economists to frame complex social phenomena through the lens of physical laws, such as entropy and energy conservation, raising critical questions about whether these scientific principles are genuinely applicable to economic systems, which are inherently more chaotic and subject to human agency. The significance of this interdisciplinary connection lies in its implications for the legitimacy of economic science; it challenges the assumption that the methodologies derived from the natural sciences can be directly transplanted to social sciences without modification. This inquiry into the boundaries and overlaps of disciplines contributes to the book's broader theme of skepticism regarding the intellectual rigor of economic theories. Mirowski's analysis also highlights the historical context of the 20th century, particularly during the rise of neoclassical economics, where borrowing from physics seemed to offer a veneer of scientific authority, ultimately questioning the epistemic foundations of economics itself.

More Heat Than Light

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Key Points from More Heat Than Light

About the Author

Philip Mirowski

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Cosmos

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