Naturalised epistemology and economics

The relevance to economics of naturalised epistemology (alsoknown as the naturalistic turn) from philosophy of science hasrecently been argued by economic methodologists, especiallyby D. Wade Hands (Reflection Without Rules: Economic Methodologyand Contemporary Science Theory, Cambridge, Cambridge UniversityPress, 2001). This concept is held by Hands to constitute partof the ‘new economic methodology’ that consistsof the ‘interpenetration of economics and science theory’.Contrary to Hands's case, naturalised epistemology is shownhere not to represent a qualitatively new concept, to possesslittle coherent meaning, and to be incapable of charting aninnovative way forward for economics. Although there are moreissues concerning naturalism bearing on economics than are notedby Hands, three specific limitations of naturalised epistemologyare discussed. These and other limitations are related to theeconomics examples Hands proposes suggesting the usefulnessof naturalised epistemology for economics.