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Deconstructing "The Invisible Hand" Discourse: An Essay on Reflections in Economic Methodology

The aim of this dissertation is to reflect on economic methodology. To reflect means to think about the relationship between researcher and the object of research. The object in mainstream economics is fixed in market realm. When the object is fixed then the focus in economic study is the method. Mainstream economics used equilibrium analysis method in order to make the research outcome be certainty. In the process of pursuing certainty the ontology of the object is neglected. The de-centering strategy we applied is deconstruction concept. My main reason for taking Derrida¡¦s deconstruction as a starting point is to de-center the fixed center which operating mechanism is the invisible hand. In this dissertation the logic of deconstruction is ¡§neither..or..¡¨ form and the steps are to undo and displace. In order to emphasize the multiples means and the relation of knowledge and power we use the term discourse.
In chapter four we undo ¡§the invisible hand¡¨ metaphor that is the center of market. The direct consequence of the undo process is the finding of the ontological implication. In chapter five we displace ¡§the invisible hand¡¨ metaphor. Through rereading Adam Smith¡¦s methodology we interpret invisible hand as causal relation and find the same ontological implication. Together with these two processes above we find out the inspiration for reflection of economic methodology that is to answer the most fundamental question about what is the economic object. In chapter six we call for discussion to bringing the ontology back into economics. We believe the study of economic ontology is a prerequisite for understanding economics as a scientific discipline. It is thus intended and hoped that this reflection will help to beyond the opposite between positivism and post-positivism. For the defined goal to coordinate the opposite we introduce philosopher Quine¡¦s ontological method called ontological commitment. After the reflection we claim ¡Gthe method such as formation and econometric is important, but if we can emphasize the ontology of research object then the study will be activity. The defense of this claim is the main subject of this dissertation. Finally we just point out that if the claim is accepted, then something along this line of the attention is essential to the practice researcher. That is to take more time to think the nature of the research object when he construes a model.

Identiferoai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0111105-114907
Date11 January 2005
CreatorsTsai, Po-wen
ContributorsJenn-Jaw Soong, Jia-Hsi Weng, Wen-jen Hsieh
PublisherNSYSU
Source SetsNSYSU Electronic Thesis and Dissertation Archive
LanguageCholon
Detected LanguageEnglish
Typetext
Formatapplication/pdf
Sourcehttp://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0111105-114907
Rightsunrestricted, Copyright information available at source archive

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