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Rights and wrongs of economic modelling: refining Rodrik

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  • Uskali Mäki

Abstract

This is a critical discussion and proposed refinement of the inspiring account of the successes and failures of economic modelling sketched in Dani Rodrik’s Economics Rules. The refinements make use of a systematic framework of the structure of scientific modelling. The issues include distinguishing the discipline of economics from the behaviour and attitudes of economists as targets of normative assessment; nature and sources of success and failure in modelling; the key role of model commentary; model transparency; purposes and audiences of modelling; the nature of critical assumptions; negligibility, applicability, and tractability in modelling; the possibility of generally applicable models; and economics fundamentalism. The proposed refinements submit sharper formulations for some of Rodrik’s ideas and supplement others, but they also reveal tensions and relieve some – not yet all – of these.

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  • Uskali Mäki, 2018. "Rights and wrongs of economic modelling: refining Rodrik," Journal of Economic Methodology, Taylor & Francis Journals, vol. 25(3), pages 218-236, July.
    • Handle: RePEc:taf:jecmet:v:25:y:2018:i:3:p:218-236
    DOI: 10.1080/1350178X.2018.1488475
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    Cited by:

    1. Claudius Gräbner & Birte Strunk, 2020. "Pluralism in economics: its critiques and their lessons," Journal of Economic Methodology, Taylor & Francis Journals, vol. 27(4), pages 311-329, October.

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