A modern precept states that information is power. While I support this precept, I consider highly important how people use the information that they possess. How is the information approached, how does the owner of the information use it for attaining his or her goals and what benefits and advantages can an information generate are significant aspects that must be considered for truly being powerful in the nowadays rapidly emerging informative world. There is a visible connection between the use of information as a power weapon and the study of philosophy of economics.
Philosophy of economics teaches students to be critical about the economic theories, concepts, social practice and ethical perspectives (“Philosophy of Economics” 6). In this way, they achieve more than a critical understanding of these theories, but also they will gain the skill of identifying how economy can be manipulated and address this aspect from various philosophical perspectives. In this respect, studying the Philosophy of Economics is relevant for students and professionals, for delineating the abusive and unethical behavior in economic practice. Moreover, it is important to study the Philosophy of Economics for achieving further progress. Without criticism, society conforms to a dull stagnation, because nobody has the courageous eruption to challenge existent ideas or preconceived thoughts (Habibi 245).
With these approaches in mind, my specific academic interest in Philosophy of Economics comprises aspects such as the positive and normative nature of economics, the classical economics or the abstraction of economics based on mathematical parameters (Hausman “Philosophy of Economics”). So far, I have read and scanned specific literature on above mentioned areas of interest. From Craig (213) I have understood that economics study resembles closely the natural sciences, as it permeates normative methodological system that delineates “what ought to be” with the positive science, which states “what is”. Sowell (2) summarized that, according to Marx, the classical economics represents the economic sociology, or the relationship between people in economic contexts. Another study elucidates that mathematic abstract theories should be used as means, and not as ends, for attaining economic rationality, instead of economic abstraction (“Philosophy of Economics” 4).
Besides building a solid economic philosophical thinking, able to see beyond, economic strategies and normative acts, my Master study in Philosophy of Economics will contribute to reaching my career goals of becoming an Economic Analyst. The Philosophy of Economics encompasses the art of revealing the reality by criticizing economic strategies, but it also provides an entire areal of economic thought and action depicted in the economic history. Such knowledge will contribute to shaping information. Information is power and it is a greater power when it is used for a cause. I plan to utilize the information gained through the Philosophy of Economics courses by providing factual information to citizens, criticizing and analyzing the global economic moves, from my role of Economic Analyst.
Works Cited
Craig, Edward. Routledge Encyclopedia of Philosophy: Descartes to gender and science. New York: Routledge. 998. Print.
Habibi, Don. John Stuart Mill and the Ethic of Human Growth. Mason: Kluwer Academic Publishers. 2001. Print.
Hausman, Daniel M., "Philosophy of Economics", The Stanford Encyclopedia of Philosophy (Winter 2013 Edition), Edward N. Zalta (ed.). Available at http://plato.stanford.edu/archives/win2013/entries/economics. Accessed 25 November 2014. Web.
“Philosophy of Economics”. Routledge Encyclopedia of the Philosophy of Science. N.d. Print.
Sowell, Thomas. On Classical Economics. Yale: Yale University Press. 2006. Print.
