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Plurality in economics

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Author Info
Sheila Dow (Department of Economics, University of Stirling, Scotland)

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Abstract

There is evidence of growing plurality in economic theory, alongside an increasing degree of homogenisation at the level of methodology. The purpose of this paper is to explore these developments in the light of the methodological literature on pluralism, regarding meaning of plurality, and the arguments for it. Issues raised by plurality are then explored: regarding mathematical formalism, the ‘anything goes’ approach, and the rationale for schools of thought. It is concluded that, if plurality is not to take the form of ‘anything goes’, then critical discussion by economists of different approaches to economics, and of pluralism itself, is required.

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Publisher Info
Paper provided by SCEME in its series SCEME Working Papers: Advances in Economic Methodology with number 011/2006.

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Length: 28 pages
Date of creation: Jan 2006
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Handle: RePEc:sti:wpaper:011/2006

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Web page: http://www.sceme.org.uk/
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Related research
Keywords: pluralism heterodox-economics

Find related papers by JEL classification:
B4 - Schools of Economic Thought and Methodology - - Economic Methodology
B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches

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  1. Runde, Jochen, 1998. "Assessing Causal Economic Explanations," Oxford Economic Papers, Oxford University Press, vol. 50(2), pages 151-72, April.
  2. Sheila C. Dow, 2004. "Uncertainty and monetary policy," Oxford Economic Papers, Oxford University Press, vol. 56(3), pages 539-561, July. [Downloadable!] (restricted)
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  3. Dow, Sheila C, 1990. "Beyond Dualism," Cambridge Journal of Economics, Oxford University Press, vol. 14(2), pages 143-57, June.
  4. McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June. [Downloadable!] (restricted)
  5. Victoria Chick & Sheila Dow, 2005. "The meaning of open systems," Journal of Economic Methodology, Taylor and Francis Journals, vol. 12(3), pages 363-381, September. [Downloadable!] (restricted)
  6. T. N. Srinivasan, 1997. "Introduction," Economics and Politics, Blackwell Publishing, vol. 9(3), pages 205-205, November. [Downloadable!] (restricted)
  7. Kantor, Brian, 1979. "Rational Expectations and Economic Thought," Journal of Economic Literature, American Economic Association, vol. 17(4), pages 1422-41, December. [Downloadable!] (restricted)
  8. Roger E. Backhouse, 2000. "Progress In Heterodox Economics," Journal of the History of Economic Thought, Taylor and Francis Journals, vol. 22(2), pages 149-155, June. [Downloadable!] (restricted)
  9. David Colander, 2000. "The Death Of Neoclassical Economics," Journal of the History of Economic Thought, Taylor and Francis Journals, vol. 22(2), pages 127-143, June. [Downloadable!] (restricted)
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  10. Chick, Victoria & Dow, Sheila C, 2001. "Formalism, Logic and Reality: A Keynesian Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 25(6), pages 705-21, November.
  11. Sheila C. Dow, 2004. "Structured pluralism," Journal of Economic Methodology, Taylor and Francis Journals, vol. 11(3), pages 275-290, September. [Downloadable!] (restricted)
  12. Weintraub, E Roy, 1999. "How Should We Write the History of Twentieth-Century Economics?," Oxford Review of Economic Policy, Oxford University Press, vol. 15(4), pages 139-52, Winter.
  13. Davis, John B., 2006. "The turn in economics: neoclassical dominance to mainstream pluralism?," Journal of Institutional Economics, Cambridge University Press, vol. 2(01), pages 1-20, April. [Downloadable!]
  14. Pencavel, John, 1991. "Prospects for Economics," Economic Journal, Royal Economic Society, vol. 101(404), pages 81-87, January. [Downloadable!] (restricted)
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