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Variety Of Methodological Approach In Economics

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  • Sheila C. Dow

Abstract

It has been argued by some that the distinction between orthodox economics and heterodox economics does not fit the growing variety in economic theory, unified by a common methodological approach. On the other hand, it remains a central characteristic of heterodox economics that it does not share this methodological approach, but rather represents a range of alternative methodological approaches. The paper explores the evidence, and arguments, for variety in economics at different levels, and a range of issues which arise. This requires in turn a discussion of the meaning of variety in economics at the different levels of reality, methodology, method and theory. It is concluded that there is scope for more, rather than less, variety in economic methodologies, as well as within methodologies. Further, if variety is not to take the form of 'anything goes', then critical discussion by economists of different approaches to economics, and of variety itself, is required. Copyright 2007 The Author Journal compilation © 2007 Blackwell Publishing Ltd.

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  • Sheila C. Dow, 2007. "Variety Of Methodological Approach In Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 447-465, July.
  • Handle: RePEc:bla:jecsur:v:21:y:2007:i:3:p:447-465
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    Cited by:

    1. Pinto, Hugo, 2009. "A Economia em Ebulição: Integrando o Plural e a Moral numa Ciência Económica Satisfatória
      [Economics in Turmoil: Integrating Moral and Plural in a Satisfactory Economic Science]
      ," MPRA Paper 18718, University Library of Munich, Germany.
    2. Hansen, Fredrik & Anell, Anders & Gerdtham, Ulf-G & Lyttkens, Carl Hampus, 2013. "The Future of Health Economics: The Potential of Behavioral and Experimental Economics," Working Papers 2013:20, Lund University, Department of Economics.
    3. Martha A. Starr, 2014. "Qualitative And Mixed-Methods Research In Economics: Surprising Growth, Promising Future," Journal of Economic Surveys, Wiley Blackwell, vol. 28(2), pages 238-264, April.
    4. Peter Skott, 2012. "Pluralism, the Lucas critique, and the integration of macro and micro," UMASS Amherst Economics Working Papers 2012-04, University of Massachusetts Amherst, Department of Economics.
    5. Wagemann, Claudius & Buche, Jonas & Siewert, Markus B., 2016. "QCA and business research: Work in progress or a consolidated agenda?," Journal of Business Research, Elsevier, vol. 69(7), pages 2531-2540.
    6. Spash, Clive L., 2012. "New foundations for ecological economics," Ecological Economics, Elsevier, vol. 77(C), pages 36-47.
    7. Stuart Birks, 2014. "Rethinking Economics: Downs with Traction," World Economic Review, World Economics Association, vol. 2014(3), pages 1-37, February.
    8. Spash, Clive L., 2012. "Ecological Economics and Philosophy of Science: Ontology, Epistemology, Methodology and Ideology," SRE-Discussion Papers 3472, WU Vienna University of Economics and Business.
    9. Tomáš Otáhal, 2012. "Ekonomická historie: čím přispívá historický příklad k pochopení ekonomických jevů?
      [Economic History: What Are the Contributions of Historical Example to Understanding of Economic Phenomena?]
      ," Politická ekonomie, University of Economics, Prague, vol. 2012(5), pages 679-693.
    10. Pinto, Hugo, 2011. "The role of econometrics in economic science: An essay about the monopolization of economic methodology by econometric methods," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(4), pages 436-443, August.
    11. Michele Di Maio, 2013. "Are Mainstream and Heterodox Economists Different? An Empirical Analysis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1315-1348, November.
    12. Sheila C. Dow, 2014. "Consistency in pluralism and microfoundations," Working Papers PKWP1408, Post Keynesian Economics Society (PKES).

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