Hermeneutical Political Economy: An Introductory Textbook

Hermeneutical Political Economy offers a profound rethinking of economics and public policy in an age dominated by technocracy, metrics, and the illusion of control. Moving beyond conventional models that treat the economy as a machine to be optimized, this book argues that economic life is first and foremost a realm of meaning, interpretation, and human creativity unfolding under conditions of irreducible uncertainty.Drawing on hermeneutical philosophy, classical political economy, and a critical engagement with modern macroeconomics, Carmelo Ferlito restores a crucial distinction between economics as a science of understanding and policy as an art of prudential judgment. Against the pretence of knowledge embedded in targets, indicators, and algorithmic governance, the book advances a vision grounded in humility, institutional memory, and respect for complexity and emergence.Written for students, scholars, and practitioners alike, this introductory textbook does not promise technocratic solutions. Instead, it offers clarity without illusion, recovering economics as an interpretative discipline and public policy as a responsible engagement with a world that cannot be engineered, only understood and wisely navigated. Read more