IDEAS home Printed from https://ideas.repec.org/a/bus/jphile/v17y2024i1n5.html

The Historicity of Economic Sciences: The Main Epistemological Ruptures

Author

Listed:
  • Alain Herscovici

    (Department of Economics and Post Graduate Program in Economics at the Federal University of Espírito Santo, Vitória (Brazil))

Abstract

The object of this work is threefold: it consists (a) in explaining and justifying, based on Foucault's concept of episteme, the epistemological foundations from which Classical Economics, Keynesian Economics and Neoclassical Economics were built; (b) in studying the nature of the epistemological ruptures that allow differentiating these schools; and (c) in defining the degree of incommensurability of these different paradigms. In the first part, I will define the main epistemological tools that allow studying the birth and evolution of science. In the second part, I will study the nature of the epistemological ruptures that characterize these evolutions and these different schools.

Suggested Citation

  • Alain Herscovici, 2024. "The Historicity of Economic Sciences: The Main Epistemological Ruptures," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 17(1), pages 119-155, Annual.
  • Handle: RePEc:bus:jphile:v:17:y:2024:i:1:n:5
    DOI: 10.46298/jpe.12219
    as

    Download full text from publisher

    File URL: https://jpe.episciences.org/13334/pdf
    Download Restriction: no

    File URL: https://doi.org/10.46298/jpe.12219
    Download Restriction: no

    File URL: https://libkey.io/10.46298/jpe.12219?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Thomas Piketty, 2013. "Le capital au XXIe siècle," Post-Print halshs-00979232, HAL.
    2. Greenwald, B & Stiglitz, Joseph E, 1987. "Keynesian, New Keynesian and New Classical Economics," Oxford Economic Papers, Oxford University Press, vol. 39(1), pages 119-133, March.
    3. repec:euc:ancoec:v:26:y:2006:p:29-55 is not listed on IDEAS
    4. Paul Davidson, 1996. "Reality and Economic Theory," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 18(4), pages 479-508, July.
    5. Grossman, Sanford J & Stiglitz, Joseph E, 1980. "On the Impossibility of Informationally Efficient Markets," American Economic Review, American Economic Association, vol. 70(3), pages 393-408, June.
    6. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    7. Mark Setterfield, 1999. "Expectations, Path Dependence and Effective Demand: A Macroeconomic Model along Keynesian Lines," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 21(3), pages 479-501, March.
    8. Grossman, Sanford J & Stiglitz, Joseph E, 1976. "Information and Competitive Price Systems," American Economic Review, American Economic Association, vol. 66(2), pages 246-253, May.
    9. Paul A. Samuelson, 1962. "Parable and Realism in Capital Theory: The Surrogate Production Function," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 29(3), pages 193-206.
    10. Sargent, Thomas J & Wallace, Neil, 1975. ""Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 83(2), pages 241-254, April.
    11. Alain Herscovici, 2019. "Essays on the Historicity of Capital," Springer Books, Springer, number 978-3-030-14838-6, December.
    12. Alan Kirman, 2016. "The Complex Nature of Economic Liberalism," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 24(3), pages 47-76.
    13. Lefteris TSOULFIDIS, 2017. "Economic theory in historical perspective," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 10(2), pages 102-124, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Arne Heise, 2025. "Keynes, Kalecki, and Minsky – Post Keynesian champions in comparison or: joining forces, horses for courses or the necessity of discrimination?," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 18(1), pages 203-234, Annual.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alain Herscovici, 2023. "The Historicity of Economic Sciences: The Main Epistemological Ruptures," Post-Print hal-04189632, HAL.
    2. Christopher J. Coyne & Vipin P. Veetil, 2016. "Learning as an emergent, creative process," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(4), pages 415-428, December.
    3. J. Barkley Rosser, 2003. "A Nobel Prize for Asymmetric Information: The economic contributions of George Akerlof, Michael Spence and Joseph Stiglitz," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 3-21.
    4. CALCAGNO, Riccardo & LOVO, Stefano M., 1998. "Bid-ask price competition with asymmetric information between market makers," LIDAM Discussion Papers CORE 1998016, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    5. Cici, Gjergji & Gehde-Trapp, Monika & Göricke, Marc-André & Kempf, Alexander, 2014. "What they did in their previous life: The investment value of mutual fund managers' experience outside the financial sector," CFR Working Papers 14-11, University of Cologne, Centre for Financial Research (CFR).
    6. Savov, Alexi, 2014. "The price of skill: Performance evaluation by households," Journal of Financial Economics, Elsevier, vol. 112(2), pages 213-231.
    7. Garbellini, Nadia, 2020. "Measurement without theory, and theory without measurement: What's wrong with Piketty's capital in the XXI century?," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 50-62.
    8. Qi, Dengwei, 2025. "The rates of learning with public and private signals," Mathematical Social Sciences, Elsevier, vol. 136(C).
    9. Golec, Joseph, 1997. "Herding on Noise: The Case of Johnson Redbook's Weekly Retail Sales Data," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 32(3), pages 367-381, September.
    10. McNulty, Mark S., 1985. "Information usage in the formation of price expectations: theory and econometric tests," ISU General Staff Papers 1985010108000013085, Iowa State University, Department of Economics.
    11. Paqué Karl-Heinz, 2014. "Der Historizismus des Jakobiners: Anmerkungen zu dem Buch „Capital in the Twenty-First Century“ von Thomas Piketty," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 15(3), pages 271-287, October.
    12. Giovanni Ferri & Andrea Morone, 2014. "The effect of rating agencies on herd behaviour," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 9(1), pages 107-127, April.
    13. Charles R. Hulten, 2017. "The Importance of Education and Skill Development for Economic Growth in the Information Era," NBER Working Papers 24141, National Bureau of Economic Research, Inc.
    14. Adam Zaremba & Jacob Koby Shemer, 2018. "Price-Based Investment Strategies," Springer Books, Springer, number 978-3-319-91530-2, December.
    15. Akram, Q. Farooq & Rime, Dagfinn & Sarno, Lucio, 2009. "Does the law of one price hold in international financial markets? Evidence from tick data," Journal of Banking & Finance, Elsevier, vol. 33(10), pages 1741-1754, October.
    16. Bellalah, Mondher & Zhang, Detao, 2017. "A model for international capital markets closure in an economy with incomplete markets and short sales," Economic Modelling, Elsevier, vol. 67(C), pages 316-324.
    17. Kerry Back & Tao Li & Alexander Ljungqvist, 2013. "Liquidity and Governance," NBER Working Papers 19669, National Bureau of Economic Research, Inc.
    18. Ian Gale & Joseph Stiglitz, 1989. "A Simple Proof That Futures Markets are Almost Always Informationally Inefficient," NBER Working Papers 3209, National Bureau of Economic Research, Inc.
    19. Vladimir Vladimirovich Maltsev & Andrei Yurievich Yudanov, 2023. "Toward a Demsetzian Knowledge Theory," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1371-1385, June.
    20. Giuseppe Pernagallo & Benedetto Torrisi, 2020. "A theory of information overload applied to perfectly efficient financial markets," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 14(2), pages 223-236, October.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bus:jphile:v:17:y:2024:i:1:n:5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valentin Cojanu (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.