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A Realist Perspective on Contemporary "Economic Theory"

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  • T. LAWSON.

Abstract

The author elaborates on methodological issues of current tendencies in neoclassical theory and demonstrates the necessity of an alternative model of science, which he calls "realist". According to this perspective, constant and regular conjunctions of economic life events should not be the main object of analysis. Rather, the author proposes to consider structures and mechanisms governing events in question. Instead of deductivism, which, as Lawson believes, is a fundamental feature of orthodox economics, the abductive method of economic explanation is proposed that entails investigation of major powers, on which any social phenomenon depends. Society is thereby regarded not as a closed, but rather as an open system.

Suggested Citation

  • T. Lawson., 2006. "A Realist Perspective on Contemporary "Economic Theory"," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 2.
  • Handle: RePEc:nos:voprec:2006-02-5
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    Cited by:

    1. Polterovich, Victor, 1998. "Кризис Экономической Теории
      [The Crisis of Economic Theory]
      ," MPRA Paper 22015, University Library of Munich, Germany.
    2. Seelos, Christian & Mair, Johanna, 2010. "Organizational mechanisms of inclusive growth: A critical realist perspective on scaling," IESE Research Papers D/840, IESE Business School.
    3. Andrew Mearman, 2006. "Critical realism in economics and open-systems ontology: A critique," Review of Social Economy, Taylor & Francis Journals, vol. 64(1), pages 47-75.
    4. Paschalis Arvanitidis, 2006. "A Framework of Socioeconomic Organisation: Redefining Original Institutional Economics Along Critical Realist Philosophical Lines," ERSA conference papers ersa06p575, European Regional Science Association.
    5. Patel, Pankaj C. & Fiet, James O., 2010. "Enhancing the internal validity of entrepreneurship experiments by assessing treatment effects at multiple levels across multiple trials," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 127-140, October.

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