Critical Realism vs. Economic Rhetoric
AbstractDiscussing 'realism' has been a growth industry lately. Where once we might have heard philosophers argue over realism vs idealism or vs instrumentalism. Today the discussion concerns various types of realism. Basically the main question is: do the model's assumptions represent realty, that is , represent real, objective world? In this paper I am going to apply critical realism to two aspects of the methodology of model building. In Section 1, I will criticize some common excuses given for accepting less than desirable realism in economic models. In section 2, I will discuss various obstacles to obtaining realistic economic models.
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Bibliographic InfoPaper provided by Department of Economics, Simon Fraser University in its series Discussion Papers with number dp99-5.
Length: 11 pages
Date of creation: 1999
Date of revision:
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Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
Web page: http://www.sfu.ca/economics.html
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Postal: Working Paper Coordinator, Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
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