Economic Policy under Uncertainty

Edited by Peter Mooslechner, formerly Oesterreichische Nationalbank, Helene Schuberth and Martin Schürz, Oesterreichische Nationalbank, Austria

• Contents: Preface 1. Economic Policy under Uncertainty: The Role of Truth and Accountability in Policy Advice 2. Some Truths about Truth for Economists and their Critics and Clients 3. Deliberative Democracy as an Institutional Mode of Inquiry: Pragmatism, Social Facts and Normative Theory 4. Communicative Rationality as the Basis of Economic Science: Contextualist Implications of the Pragmatic Turn in Critical Social Theory 5. The Role of Truth in Economic Policy Advice 6. Philosophical Concepts of Truth in Economic Policy Advice 7. Macroeconomics, Pragmatism and Cognitive Scarcity: Keynes Should Have Read C.S. Peirce on Probability and Evolutionary Complexity 8. Truth, Uncertainty, Morals: The Uneasy Relationship between Economic Advice and Politicians 9. Serving Two Masters: Economic Methodology between Philosophy and Practice 10. The Issue of Uncertainty in Economics 11. Uncertainty in Econometrics: Evaluating Policy Counterfactuals 12. Uncertainty and Monetary Policy 13. Knightian Uncertainty, Accountability and Economic Policy Rules 14. In Between Popper and Kuhn: Some Reflections on How Economists Create Economic Reality and the Reality of Economic Policy Index

'This collection is a serious examination of many issues that most economists probably take for granted. As such, it is a welcome reminder and valuable contribution. . . academics and practitioners alike will benefit if the interest is in taking a hard, reflective look at their trade and getting a strong update on the state of thinking about the philosophy of economics and economic policymaking.'