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Assessing Causal Economic Explanations


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  • Runde, Jochen
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    Recent years have witnessed a growing interest in causal realism in the methodology of economics. Some of this literature reflects a strong skepticism about the existence of sharp event-regularities or 'laws' in the economic realm and, accordingly, about the prospects for the covering-law approach to explanation that dominates modern economic theory. This paper outlines an alternative, causal, approach to economic explanation and attempts to answer an important question often asked about it: how should causal economic explanations be assessed? Copyright 1998 by Royal Economic Society.

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    Bibliographic Info

    Article provided by Oxford University Press in its journal Oxford Economic Papers.

    Volume (Year): 50 (1998)
    Issue (Month): 2 (April)
    Pages: 151-72

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    Handle: RePEc:oup:oxecpp:v:50:y:1998:i:2:p:151-72

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    Cited by:
    1. Lee, Frederic, 2011. "The making of heterodox microeconomics," MPRA Paper 30907, University Library of Munich, Germany.
    2. Geoffrey Hodgson, 2004. "Some claims made for critical realism in economics: two case studies," Journal of Economic Methodology, Taylor & Francis Journals, Taylor & Francis Journals, vol. 11(1), pages 53-73.
    3. Hearnshaw, Edward J.S. & Cullen, Ross & Hughey, Kenneth F.D., 2006. "An Emergent Economics of Ecosystem Management," 2006 Conference, August 24-25, 2006, Nelson, New Zealand, New Zealand Agricultural and Resource Economics Society 31957, New Zealand Agricultural and Resource Economics Society.
    4. Gregor Zwirn, 2009. "Ludwig von Mises on the epistemological foundation for social sciences reconstructed," The Review of Austrian Economics, Springer, Springer, vol. 22(1), pages 81-107, March.
    5. Lewis, Paul & Runde, Jochen, 2007. "Subjectivism, social structure and the possibility of socio-economic order: The case of Ludwig Lachmann," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 62(2), pages 167-186, February.
    6. Bernard Walters & David Young, 2001. "Critical Realism as a Basis for Economic Methodology: A critique," Review of Political Economy, Taylor & Francis Journals, Taylor & Francis Journals, vol. 13(4), pages 483-501.
    7. Paul Lewis, 2005. "Boettke, The Austrian School and the Reclamation of Reality in Modern Economics," The Review of Austrian Economics, Springer, Springer, vol. 18(1), pages 83-108, January.
    8. Jochen Runde, 2001. "On Stephen Parsons' Philosophical Critique of Transcendental Realism," Review of Political Economy, Taylor & Francis Journals, Taylor & Francis Journals, vol. 13(1), pages 101-114.


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