milton friedman’s seminal article, “methodology of positive economics”, is one of the most important and contentious works ever been discussed within the realm of economic methodology. in this article, on the basis of an instrumentalist approach to the nature of theorizing, friedman declares the tenets of positive economics, and in this vein, he professes his disputable doctrine about “unrealis...

In this paper, I shall defend two main claims. First, Friedman’s famous paper “On the methodology of positive economics” (“F53”) cannot be properly understood without taking into account influence three authors who are neither cited nor mentioned in paper: Max Weber, Frank Knight, and Karl Popper. trace both their substantive on F53 historical route by which took place. Once one has these ingre...

his paper investigates the conformity of market participants’ decisions with the Islamic codes of conduct from the economic and philosophical perspectives. At the outset, the contributions of the renowned contemporary Muslim philosophers on the epistemological issues between the “is” and the “ought” are presented. Subsequently, a synthesized construct that would resolve the dichotomy between th...

in spite of sonic pessimistic attitudes towards methodology of economics, it has succeeded as a central theme in numerous books, refereed journals, international conferences and symposiums whose volume is increasing at an unprecedented rate. the proliferation of methodological literature also is accompanied by a proliferation of issues that concern: the goals of economics, realism of economics,...