Contains a collection of articles on economics as a system of discourse and on certain epistemological problems of economics. The treatment of both topics centres on the role of often implicit assumptions as to whose interests count in reaching conclusions especially as to policy.

Part 1 Economics as discourse: "Truth" and "Discourse" in the social construction of economic reality - an essay on the relation of knowledge to socioeconomic policy; the idea of the corporation as a person - on the normative significance of judicial language; machlup on knowledge - science, subjectivism and the social nature of knowledge; a critique of the discursive systems and foundation concepts of distribution analysis. Part 2 Methodology, policy and the social construction of reality: an essay on the nature and significance of the normative nature of economics; determinate solutions and valuational processes - overcoming the foreclosure of process; the methodology of economics and the case for policy diffidence and restraint; economics as a science and its relation to policy - the example of free trade; the Knight-Ayres correspondence - the grounds of knowledge and social action; on some fundamental issues in political economy - an exchange of correspondence. Part 3 Values and ideology in economics: ideology in economics; the historical treatment of the problem of value judgments - an interpretation you cannot derive "Ought" from "Is". Part 4 Reasoning in economics: on the attribution of causality and responsibility in macroeconomics; of lookout cows and the methodology of economics; economics and theology - the fundamental common problem; the pareto principle - another view; two concepts of "Politicization"; the pervasive proposition, "What Is, Is and Ought to Be" - a critique.