Short answers, pulled from the story.
Philosophy and economics studies topics such as rationality, justice, the history of economic thought, the appraisal of economic outcomes, and the ontology of economic phenomena. It is usefully divided into three subject areas: action theory, ethics and normative political philosophy, and philosophy of science.
Scholars cited in the literature include Alexander Rosenberg and Daniel M. Hausman for epistemological work, John Rawls and Robert Nozick for justice theory, Ludwig von Mises for praxeology, Amartya Sen for cross-cultural perspectives, and Karl Marx for the philosophical critique of capitalism. Aristotle, Adam Smith, John Maynard Keynes, and Friedrich Hayek are also among the figures cited.
John Rawls published A Theory of Justice in 1971 and Robert Nozick responded with Anarchy, State and Utopia in 1974. Both works are regarded as highly philosophical in approach because they examine the fundamentals of what constitutes a just economic arrangement rather than specific policy questions.
Praxeology is a deductive theory of human action based on premises presumed to be philosophically true, following the analytic-synthetic distinction of Immanuel Kant. It was developed by Ludwig von Mises within the Austrian School as a deliberate opposition to mathematical modelling and hypothesis-testing used in neoclassical economics.
A small number of universities offer master's degree programmes specialised in philosophy, politics and economics, including the London School of Economics, the University of Edinburgh, Erasmus University Rotterdam, Copenhagen Business School, the University of Vienna, the University of Bayreuth, the University of Hamburg, and Witten/Herdecke University.
Karl Marx is generally regarded primarily as a philosopher whose most notable work falls within the philosophy of economics. His economic critique of capitalism did not depend on ethics or morality; instead it focused on the inherent contradictions of capitalism through the lens of dialectical materialism.