Practical Comparability and Ends in Economics

RICARDO F. CRESPO

Journal of Economic Methodology

Routledge

Lugar: Londres, Internacional ; Año: 2007 vol. 14 p. 371 - 393

1350-178x

This paper endeavours to summarise a variety of arguments for a reconsideration of ends in Economics. The logical structure of the rationality of ends (practical rationality) differs from the one of means (instrumental rationality). The paper sets out to explain the differences between both rationalities and some of the implications of incorporating this new emphasis on ends, given that Economics adopts the means rationality. The emergence of the topics of incommensurability and incomparability of ends is presented and a possible way to tackle it is suggested. Finally, some implications for Economics are drawn. This article emphasises the importance of incorporating practical rationality into economic analysis. The arguments of the paper are built on Aristotelian grounds.