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Critical Realism: The Philosophical Underlabourer of Heterodox Economics

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  • Paschalis A. Arvanitidis

Abstract

One of the most refreshing philosophical perspectives introduced to economics and to social sciences in general over the last twenty years or so is this of Critical Realism (CR). It presents a new way of seeing socioeconomic reality, and, on these grounds, it advances discussion in philosophy and methodology, providing guidelines of how modes of reasoning and research might be fashioned for analysis within all sciences, social and natural. The current paper aims at presenting the fundamentals of the philosophy of CR. In particular, it delineates the key ontological and epistemological premises of CR together with an outline of the methodological implications for economics.

Suggested Citation

  • Paschalis A. Arvanitidis, 2013. "Critical Realism: The Philosophical Underlabourer of Heterodox Economics," Bulletin of Political Economy, Bulletin of Political Economy, vol. 7(2), pages 199-221, December.
    • Handle: RePEc:awu:journl:v:7:y:2013:i:2:p:199-221
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