Revisiting Friedman’s “On the methodology of positive economics” (“F53”)

In this paper, I shall defend two main claims. First, Friedman’s famous paper “On the methodology of positive economics” (“F53”) cannot be properly understood without taking into account influence three authors who are neither cited nor mentioned in paper: Max Weber, Frank Knight, and Karl Popper. trace both their substantive on F53 historical route by which took place. Once one has these ingredients, especially Weber’s ideal types, many F53’s astonishing sentences like “the more significant theory, unrealistic assumptions” make good sense. Second, claim that much-discussed question whether essay espouses an instrumentalist or a realist position, is wrong to asked. illustrate comparison with examples from physics also assumptions made. Also there, indicators instrumentalism realism not appropriate. Cleared misunderstandings, presents itself as interesting reasonable but much less controversial contribution economics.