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On the Problem of Formalism in Economics

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Abstract

The author analyses "critical realist" economic methodology with respect to application of mathematical modeling. He indicates strong and weak sides of critical realist argument, putting emphasis on the works by T. Lawson. An alternative view on the role of formal technique in economics is proposed, taking into account the diversity of interpretative contexts while applying mathematical models.

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  • G. Hodgson, 2006. "On the Problem of Formalism in Economics," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 3.
    • Handle: RePEc:nos:voprec:y:2006:id:1718
    DOI: 10.32609/0042-8736-2006-3-111-124
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