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Realism and Inference in Economics: A Note

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  • Dr Paul Downward
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    Abstract

    Despite the widespread appeal to realism as a philosophical doctrine in political economy in general and post Keynesian economics in particular, a variety of epistemological approaches have evolved. This paper reviews these approaches and, based on a synthesis of these ideas offers a broader more operational notion of inference, consistent with the epistemology of Keynes, that includes a constructive role for econometrics.

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    Bibliographic Info

    Paper provided by Staffordshire University, Business School in its series Working Papers with number 98-7.

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    Handle: RePEc:wuk:stafwp:98-7

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    1. Lawson, Tony, 1989. "Abstraction, Tendencies and Stylised Facts: A Realist Approach to Economic Analysis," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 13(1), pages 59-78, March.
    2. Lawson, Tony, 1995. "The 'Lucas Critique': A Generalisation," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 19(2), pages 257-76, April.
    3. Sheila C Dow, 1994. "Methodological Pluralism and Pluralism of Method," Working Papers Series, University of Stirling, Division of Economics 94/10, University of Stirling, Division of Economics.
    4. Lawson, Tony, 1989. "Realism and Instrumentalism in the Development of Econometrics," Oxford Economic Papers, Oxford University Press, vol. 41(1), pages 236-58, January.
    5. Tony Lawson, 1994. "The Nature of Post Keynesianism and Its Links to Other Traditions: A Realist Perspective," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 16(4), pages 503-538, July.
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    Cited by:
    1. Paul Downward, . "Risk, Uncertainty and Inference in Post Keynesian Economics:A Realist Commentary," Working Papers, Staffordshire University, Business School 98-8, Staffordshire University, Business School.

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