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Did Milton Friedman's methodology license the Formalist Revolution?

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  • D. Wade Hands

Abstract

This paper examines two conflicting views that have emerged within the recent methodological literature regarding the relationship between Friedman's famous essay and the formalist revolution. I focus on three influential contributors to this ongoing debate: Mark Blaug, Terence Hutchison, and Thomas Mayer. Blaug and Hutchison have argued repeatedly that Friedman's essay licensed the formalist revolution while Mayer has argued precisely the opposite; the formalist revolution was a result of not following Friedman's methodological advice. The juxtaposition of these views is particularly interesting since the authors disagree sharply about the impact of Friedman's essay, and yet seem to agree about most other aspects of economic methodology.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/1350178032000130493
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Journal of Economic Methodology.

Volume (Year): 10 (2003)
Issue (Month): 4 ()
Pages: 507-520

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Handle: RePEc:taf:jecmet:v:10:y:2003:i:4:p:507-520

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Keywords: Milton Friedman; Mark Blaug; Terence Hutchison; Thomas Mayer; methodology; positive economics; Formalist Revolution;

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Cited by:
  1. Eduardo Strachman & José Ricardo Fucidji, 2012. "The Current Financial And Economic Crisis: Empirical And Methodological Issues," Journal of Advanced Studies in Finance, ASERS Publishing, vol. 0(1), pages 95-123, June.
  2. Kevin Hoover, 2004. "Milton Friedman’s Stance: The Methodology of Causal Realism," Working Papers 66, University of California, Davis, Department of Economics.
  3. Boldyrev, I., 2011. "Economic Methodology Today: a Review of Major Contributions," Journal of the New Economic Association, New Economic Association, issue 9, pages 47-70.

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