In the insurance literature, it is often argued that private markets can provide insurance against ‘risks' but not against ‘uncertainties' in the sense of Knight (1921) or Keynes (1921). This claim is at odds with the standard economic model of risk exchange which, in assuming that...

We critically assess the nature, method and scope of neoclassical economics, and its purported relationship to the famous definition of economics by Lionel Robbins (that economics is the science of human behaviour as a relationship between scarce mans that have alternative uses). We claim that...

This paper is the introduction to a special issue of the Cambridge Journal of Economics on the topic of ontology and the history of economic thought. It explains what is meant by social ontology and why ontological issues should be taken seriously by historians of economic thought. It then goes...