Wednesday, October 31, 2007

Partha Dasgupta's primer on economics

is drawing some attention. I recall Partha Dasgupta's comments from the foreword "Poverty, Environment and Society: The Role of Natural Capital in Economic Development": "Despite the interdisciplinary nature of my enquiries, the lens through which I have studied the social world has been that of economics. I have assumed a point of view of the circumstances of living that gives prominence to the allocation of scarce resources - among contemporaries and across the generations. One hallmark of the viewpoint is to study human well-being in terms of its commodity determinants and the institutions that shape our lives. Another is to reason quantitatively. Moreover, because it is subject to empirical discipline, the inquiry encourages approximations. Inevitably, the viewpoint is partial. But increasingly I have come to realize that it is possible to look outward from that partial view to catch a glimpse of the larger enterprise called "living".
I do that regularly in the essays that follow and, in the one methodological essay in the present collection, I respond to several prominent critics of contemporary economics by showing that they misunderstand the foundations of my discipline.

While re-reading the essays here, I noticed that I have rarely ever published an article in which the bird I was ultimately able to catch was in fact caught. This is because I have rarely ever known what it was that I was really after. Maybe I knew it subconsciously, but I doubt that. In my case, a discovery has meant a growing realization, not a blinding revelation. Usually, it has taken me several publications, brick by metaphorical brick, before I was able even to understand what the phenomenon I had been working on was, let alone to uncover the pathways that give rise to the phenomenon. I don't know whether this is a common experience among scientists, but I doubt it. I suspect there is nothing common among the processes by which we gain an understanding of the world around us."

No comments: