IDEAS home Printed from https://ideas.repec.org/a/eme/ijsepp/v40y2013i9p809-825.html
   My bibliography  Save this article

The desocialising of economic theory

Author

Listed:
  • William A. Jackson

Abstract

Purpose - The paper aims to show that economic theory has become “desocialised” and separated from social theory through the adoption of individualistic methods and neglect of social relations and structures. It also seeks to assess the upshot of these trends, as well as the prospects for reversing them. Design/methodology/approach - A historical overview traces how the social content of economic theory has diminished, considering the reasons why. This leads on to a wider evaluation of what desocialisation entails and whether economics could be done differently. Findings - Desocialisation stems from the desire for boundaries between academic disciplines, which drove economics towards individualism and other social sciences towards structural methods. Such an artificial divide between economic theory and social theory is argued to be detrimental to all the disciplines concerned. Practical implications - Restrictions imposed by desocialised theory have practical consequences for how we understand and model the economy. Some reforms that would loosen the restrictions so as to promote a resocialised economics are suggested. Originality/value - The idea of desocialisation is defined and interpreted, drawing attention to the changing nature of economics, its isolation from other social sciences, and the possibilities for alternative modes of economic theorising.

Suggested Citation

  • William A. Jackson, 2013. "The desocialising of economic theory," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 40(9), pages 809-825, July.
    • Handle: RePEc:eme:ijsepp:v:40:y:2013:i:9:p:809-825
    DOI: 10.1108/IJSE-09-2012-0174
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/IJSE-09-2012-0174/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/IJSE-09-2012-0174/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/IJSE-09-2012-0174?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Heinz Kurz, 2006. "Whither the history of economic thought? Going nowhere rather slowly?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 13(4), pages 463-488.
    2. Geoffrey M. Hodgson, 2007. "Meanings of methodological individualism," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(2), pages 211-226.
    3. Lawrence Birken, 1988. "From Macroeconomics to Microeconomics: The Marginalist Revolution in Sociocultural Perspective," History of Political Economy, Duke University Press, vol. 20(2), pages 251-264, Summer.
    4. Davis, John B., 2006. "The turn in economics: neoclassical dominance to mainstream pluralism?," Journal of Institutional Economics, Cambridge University Press, vol. 2(1), pages 1-20, April.
    5. David Colander & Richard Holt & Barkley Rosser, 2004. "The changing face of mainstream economics," Review of Political Economy, Taylor & Francis Journals, vol. 16(4), pages 485-499.
    6. Eckehard Rosenbaum, 2000. "What is a Market? On the Methodology of a Contested Concept," Review of Social Economy, Taylor & Francis Journals, vol. 58(4), pages 455-482.
    7. Ana C. Santos, 2011. "Behavioural and experimental economics: are they really transforming economics?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 35(4), pages 705-728.
    8. William A. Jackson, 2007. "On the social structure of markets," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(2), pages 235-253, March.
    9. Tomer, John, 2008. "Beyond the rationality of economic man, toward the true rationality of human man," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(5), pages 1703-1712, October.
    10. Clifton, James A, 1977. "Competition and the Evolution of the Capitalist Mode of Production," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 1(2), pages 137-151, June.
    11. Alan Kirman, 2006. "Demand Theory and General Equilibrium: From Explanation to Introspection, a Journey down the Wrong Road," History of Political Economy, Duke University Press, vol. 38(5), pages 246-280, Supplemen.
    12. Marc Lavoie, 2009. "Introduction to Post-Keynesian Economics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-23548-9.
    13. James E. Alvey, 2000. "An introduction to economics as a moral science," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 27(12), pages 1231-1252, December.
    14. David Colander, 2018. "The Death Of Neoclassical Economics," Chapters, in: How Economics Should Be Done, chapter 5, pages 46-62, Edward Elgar Publishing.
    15. Stewart, Hamish, 1995. "A Critique of Instrumental Reason in Economics," Economics and Philosophy, Cambridge University Press, vol. 11(1), pages 57-83, April.
    16. Michel De Vroey, 1975. "The Transition from Classical to Neoclassical Economics: A Scientific Revolution," Journal of Economic Issues, Taylor & Francis Journals, vol. 9(3), pages 415-439, September.
    17. Esther-Mirjam Sent, 2004. "Behavioral Economics: How Psychology Made Its (Limited) Way Back Into Economics," History of Political Economy, Duke University Press, vol. 36(4), pages 735-760, Winter.
    18. Michael Hudson, 2000. "The use and abuse of mathematical economics," Journal of Economic Studies, Emerald Group Publishing, vol. 27(4/5), pages 292-315, September.
    19. Kevin D. Hoover, 2012. "Microfoundational Programs," Chapters, in: Microfoundations Reconsidered, chapter 1, Edward Elgar Publishing.
    20. Michael Hudson, 2000. "The use and abuse of mathematical economics," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 27(4/5), pages 292-315, August.
    21. William A. Jackson, 2009. "Economics, Culture and Social Theory," Books, Edward Elgar Publishing, number 4082.
    22. Jackson, William A., 1999. "Dualism, Duality and the Complexity of Economic Institutions," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 26(4), pages 545-558.
    23. Rizvi, S Abu Turab, 1994. "The Microfoundations Project in General Equilibrium Theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 18(4), pages 357-377, August.
    24. Donald W. Katzner, 2003. "Why mathematics in economics?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 25(4), pages 561-574.
    25. Peter E. Earl, 2005. "Economics and psychology in the twenty-first century," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(6), pages 909-926, November.
    26. George M. Agiomirgianakis & Yiannis E. Mavrommatis, 1998. "Economics and mathematics: recent views on a controversial relationship," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 25(10), pages 1565-1571, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jackson, William A., 2015. "Distributive Justice With and Without Culture," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 8(6), pages 673-688.
    2. Farah Naz, 2022. "Capabilities and Human Well-Being: How to Bridge the Missing Link?," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 8(2), pages 61-71, June.
    3. William A. Jackson, 2018. "Strategic Pluralism and Monism in Heterodox Economics," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(2), pages 237-251, June.
    4. Drakopoulos, Stavros A., 2022. "The Conceptual Resilience of the Atomistic Individual in Mainstream Economic Rationality," MPRA Paper 112944, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pessali, Huascar & Berger, Bruno, 2010. "A teoria da perspectiva e as mudanças de preferência no mainstream: um prospecto lakatoseano [Prospect theory and preference change in the mainstream of economics: a Lakatosian prospect]," MPRA Paper 26104, University Library of Munich, Germany.
    2. W A Jackson, 2015. "Markets and the Meaning of Flexibility," Economic Issues Journal Articles, Economic Issues, vol. 20(2), pages 45-65, September.
    3. Urban, Janina & Rommel, Florian, 2020. "German economics: Its current form and content," Working Paper Series 56, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    4. Michele Di Maio, 2013. "Are Mainstream and Heterodox Economists Different? An Empirical Analysis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1315-1348, November.
    5. Adem LEVENT, 2016. "Power, Market and Techno-Structure in John Kenneth Galbraith’s Thought," Journal of Social and Administrative Sciences, KSP Journals, vol. 3(2), pages 214-218, June.
    6. Jakob Kapeller & Stephan Puehringer & Christian Grimm, 2022. "Paradigms and policies: the state of economics in the German-speaking countries," Review of International Political Economy, Taylor & Francis Journals, vol. 29(4), pages 1183-1210, July.
    7. D. Wade Hands, 2012. "The Rise and Fall of Walrasian Microeconomics: The Keynesian Effect," Chapters, in: Microfoundations Reconsidered, chapter 3, Edward Elgar Publishing.
    8. Duarte N. Leite & Sandra T. Silva & Oscar Afonso, 2014. "Institutions, Economics And The Development Quest," Journal of Economic Surveys, Wiley Blackwell, vol. 28(3), pages 491-515, July.
    9. Drakopoulos, Stavros A., 2022. "The Conceptual Resilience of the Atomistic Individual in Mainstream Economic Rationality," MPRA Paper 112944, University Library of Munich, Germany.
    10. David Colander & Richard Holt & J. Rosser, 2007. "Live and dead issues in the methodology of economics," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(2), pages 303-312.
    11. William A. Jackson, 2018. "Strategic Pluralism and Monism in Heterodox Economics," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(2), pages 237-251, June.
    12. Yann Giraud, 2017. "The Contestable Marketplace of Ideas: Paul Samuelson’s Defense of Mainstream Economics through Textbook Making, 1967-1976," THEMA Working Papers 2017-19, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    13. Ambrosino, Angela & Cedrini, Mario & B. Davis, John, 2022. "Today’s economics: One, No One and One Hundred Thousand," Department of Economics and Statistics Cognetti de Martiis. Working Papers 202215, University of Turin.
    14. Beckenbach, Frank, 2019. "Monism in modern science: The case of (micro-)economics," Working Paper Series Ök-49, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    15. S M Amadae, 2020. "Life without Virtue: Economists Rule. Review essay of Dani Rodrik’s Economics Rules," Economic Issues Journal Articles, Economic Issues, vol. 25(2), pages 51-70, September.
    16. John E. King, 2013. "Should post-Keynesians make a behavioural turn?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(2), pages 231-242.
    17. Giancarlo Ianulardo & Aldo Stella, 2022. "Towards a unity of sense: A critical analysis of the concept of relation in methodological individualism and holism in Economics," Working Papers hal-03771892, HAL.
    18. Amitava Krishna Dutt, 2015. "Uncertainty, power, institutions, and crisis: implications for economic analysis and the future of capitalism," Review of Keynesian Economics, Edward Elgar Publishing, vol. 3(1), pages 9-28, January.
    19. Peter Hans Matthews, 2004. "Who is Post-Walrasian Man?," Middlebury College Working Paper Series 0412, Middlebury College, Department of Economics.
    20. Drakopoulos, Stavros A. & Katselidis, Ioannis, 2017. "The Relationship between Psychology and Economics: Insights from the History of Economic Thought," MPRA Paper 77485, University Library of Munich, Germany.

    More about this item

    Keywords

    Economic theory; Social theory; Methodological individualism; Social structure; Duality; Stratification;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • Z10 - Other Special Topics - - Cultural Economics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:ijsepp:v:40:y:2013:i:9:p:809-825. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.