Management

Markets, Money and Capital

---

One important premise of Hicks’s theoretical framework is the distinction between the structure of reality and the purpose-oriented arrangement of human actions. There are reasons to believe that, at an early stage of his development as an economist, Hicks came across the distinction between an ‘order of being’ and an ‘order of doing,’ as discussed by Maffeo Pantaleoni (Pantaleoni, 1925). As a matter of fact, Pantaleoni (in a passage carefully read and annotated by Hicks) had written:
Ancient logicians distinguished between a causa fiendi and a causa essendi, then between an ordo fiendi and an ordo essendi. In modern language, we have reserved the term cause to phenomena related to one another by a necessary order of occurrence in time, and the term joint occurrence of conditions to phenomena of necessary and contemporaneous co-ordination. A causal process is not a reversible one. On the contrary, a system of co-ordinated conditions may be looked upon starting from any one of its points; it has no order; it shows simultaneity. Now, economic phenomena show sometimes the former, sometimes the latter property. In any practical case, it will be easy not to get lost. (Pantaleoni, 1925: 71–2)
Pantaleoni’s dissection of causality concepts continues with the discussion of alternative classes of phenomena

---

Availability

No copy data

Detail Information

Series Title

Markets, Money and Capital

Call Number

-

Publisher

USA : Cambridge University Press., 2008

Collation

1-467

Language

English

ISBN/ISSN

-13 978-0-511-48091-

Classification

NONE

Content Type

-

Media Type

-

Carrier Type

-

Edition

1st Edtion

Subject(s)

Finance

Specific Detail Info

-

Statement of Responsibility

-

Other version/related

File Attachment

Comments

---

You must be logged in to post a comment