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Some Claims Made for Critical Realism in Economics: Two Case Studies

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The article critically examines claims made by two prominent critical realists on behalf of their philosophy - on the Marx’s law of the tendency of the rate of profit to fall and on the workplace organization theory of the relative decline of the British economy. These two case studies raise important questions concerning critical realism in economics. The character of critical realism as a movement is also analyzed.

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  • G. Hodgson, 2006. "Some Claims Made for Critical Realism in Economics: Two Case Studies," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 7.
    • Handle: RePEc:nos:voprec:y:2006:id:1758
    DOI: 10.32609/0042-8736-2006-7-37-52
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    File URL: https://www.vopreco.ru/jour/article/viewFile/1758/1760
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    1. Bernard Walters & David Young, 1999. "Is Critical Realism the Appropriate Basis for Post Keynesianism?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 22(1), pages 105-123, September.
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    6. Andrea Salanti & Ernesto Screpanti (ed.), 1997. "Pluralism in Economics," Books, Edward Elgar Publishing, number 900.
    7. Blaug,Mark, 1997. "Economic Theory in Retrospect," Cambridge Books, Cambridge University Press, number 9780521577014.
    8. Bowles, Samuel, 1981. "Technical Change and the Profit Rate: A Simple Proof of the Okishio Theorem: Note [Technical Change and the Rate of Profit]," Cambridge Journal of Economics, Oxford University Press, vol. 5(2), pages 183-186, June.
    9. Downward, Paul, 2000. "A Realist Appraisal of Post-Keynesian Pricing Theory," Cambridge Journal of Economics, Oxford University Press, vol. 24(2), pages 211-224, March.
    10. Runde, Jochen, 1998. "Assessing Causal Economic Explanations," Oxford Economic Papers, Oxford University Press, vol. 50(2), pages 151-172, April.
    11. Hodgson, Geoff, 1989. "Institutional Rigidities and Economic Growth," Cambridge Journal of Economics, Oxford University Press, vol. 13(1), pages 79-101, March.
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    Cited by:

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    2. Melia, Dr Steve, 2019. "Why did UK governments cut road building in the 1990s and expand it after 2010?," Transport Policy, Elsevier, vol. 81(C), pages 242-253.
    3. Hassan Danaeefard, 2022. "Implication studies: a methodological framework," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(5), pages 3159-3188, October.

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