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The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies

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  • Amavilah, Voxi Heinrich

Abstract

Economists failed badly both to predict and solve the Great Global Recession of 2008-2010 for two interconnected reasons. The first is that economics has moved too far away from its social foundations. The second reason is that the positivist economic methodology that economics follows has produced both benefits and costs, perhaps even costs than benefits, one may argue. This paper looks at the available evidence (not exhaustively) to argue for a Caldwellian methodological pluralism. It illustrates the advantages of such a methodological approach as well as the disadvantages of its alternatives, especially monolithic positivism.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44656.

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Date of creation: 30 Nov 2012
Date of revision: 28 Feb 2013
Handle: RePEc:pra:mprapa:44656

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Keywords: Economic methodology; methodological pluralism; philosophy of economic science; economic research methods; explanation versus prediction.;

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  1. David Colander, 2005. "The Making of an Economist Redux," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 175-198, Winter.
  2. Edward E. Leamer, 1982. "Let's Take the Con Out of Econometrics," UCLA Economics Working Papers 239, UCLA Department of Economics.
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  6. Voxi Heinrich Amavilah, 2009. "Knowledge of African countries: production and value of doctoral dissertations," Applied Economics, Taylor & Francis Journals, vol. 41(8), pages 977-989.
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  12. McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June.
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  14. Spanos,Aris, 1986. "Statistical Foundations of Econometric Modelling," Cambridge Books, Cambridge University Press, number 9780521269124.
  15. Hansen, Bruce E, 1996. "Methodology: Alchemy or Science: Review Article," Economic Journal, Royal Economic Society, vol. 106(438), pages 1398-1413, September.
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