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According to John Stuart Mill, “the definition of a science has almost invariably not preceded, but followed, the creation of the science itself” (Mill 1844, 86). The subject matter, the methods, the main topics and questions, the foremost goals and challenges, all such elements need to be properly understood before a suitable definition of the discipline can be established. Mill was referring to economics. Yet, today there is still no full agreement on what exactly economics is, what it is supposed to be about, nor on the methods that it should employ. Since the early nineteenth century, such reflections on the nature of economics—its definition, subject matter, methodology, logic, epistemic and empirical basis, normative implications, as well as its relations to other fields—have slowly given rise to the new field of philosophy of economics. However, this development has been rather sporadic, possibly due to the disciplinary structures and boundaries that have, for example, limited enthusiasm for economic methodology among philosophers of science, and isolated historians of economic thought from their colleagues in economics departments interested in the relevance of the past for a better understanding of contemporary economic theory. Indeed, significant full-fledged attempts to organise, systematise, and recognise philosophy of economics as a distinct discipline only started some 30 years ago. Nonetheless in recent decades various international institutions and academic journals have begun to appear, including the International Network of Economic Method (INEM) with its specialised and highly regarded Journal of Economic Methodology and the prestigious and more general Economics and Philosophy. These organisations have mainly served to shape and develop the exchange of ideas among people who were already knowledgeable and active in the philosophy of economics, thus bringing about a mostly highly specialised academic exchange.

Welcome to the inaugural issue of the EJPE