Economics and Economic Reality

Mondays 18:00–19:15PM

Registration information:

• Who can attend: This series is open to IGP and IIPP students only.
• How to register: Email angus.armstrong@ucl.ac.uk (IGP) or (IIPP) with your name and programme details.carolina.alves@ucl.ac.uk

Location:

Events in this series take place at either of the following UCL institutes (as indicated in the schedule):

• UCL Institute for Global Prosperity (IGP)
  1st Floor, 9–11 Endsleigh Gardens
  London, WC1H 0EH
• UCL Institute for Innovation and Public Purpose (IIPP)
  11 Montague Street
  London, WC1B 5BP

Each session will be followed by refreshments.

About the series:

Economists like to speak of positive economics to analyse the world as it really exists rather than being clouded by normative and messy value-laden judgements. It is a world where precise measures of goods, commodities, employment, capital and money all orbit around the gravitational pull of ‘markets’ reflecting our fundamental drive to survive and reproduce. It is said to be a system in which no person can be made better-off without making someone else worse-off and where resources are used most efficiently in a system of perpetual ever-lasting motion.

But what are these economic things, really? Positive economics implicitly assumes ontological certainty. That is, economic objects and forces exist independently of us and can be neutrally observed and measured. Yet this raises a deeper question: Do phenomena like money, value, inflation, or even welfare describe reality, or do they help constitute it? Are they like waterfalls and trees, naturally existing entities, or are they part of a socially constructed reality shaped by economic thought and practice? This is not mere philosophical musings: these categorisations shape our institutions, policies, and the rhythms of everyday life.

We can accept this worldview as given and the economic and social world views that follow. Or, and this is our invitation to you, we can question and challenge it. This biweekly series is a collective inquiry into the ontology of economics. Inspired by the tradition of the Cambridge Social Ontology Group and Professor Tony Lawson, we open this space to UCL IGP and IIIPP students to raise deep questions, challenge dominant narratives, and explore alternative perspectives on what constitutes economic reality.

You don’t need to be a philosopher or an economist to join. You just need to be curious and willing to ask the questions that have always lingered in the background of our thinking. We hope these meetings will be a useful, fun and safe learning place to really engage on some fundamental questions. They are ‘in person’ meetings only to promote debate and discussion. Each meeting will be in a friendly debate format and will close with a vote to see which arguments you found most compelling.

We ask that you commit to coming to a term of our debates so that there is continuous learning, and a comfortable and trusting environment. We will compile an email of everyone who wishes to join us on this basis. Come and join us!

Find the series programme below

Series Directors: