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Is endogenous growth theory degenerating? Another look at Lakatosian appraisal of growth theories

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  • Michal Brzezinski
  • Michal Dzielinski

Abstract

In a recent paper, Cavusoglu and Tebaldi (2006) provided an evaluation of neoclassical and endogenous growth theories according to Lakatos's methodology of scientific research programmes. This paper offers three criticisms of their contribution as well as a rival Lakatosian appraisal of growth theories. First, we hold that Cavusoglu and Tebaldi do not provide a proper structure of theory comparison in their contribution. Second, we argue that they use an inadequate version of Lakatos's appraisal criterion. Third, against the claim of the authors, we show that there are seminal endogenous growth models, which predict income convergence among countries. Finally, in contrast to Cavusoglu and Tebaldi, our analysis suggests that by Lakatos's standards, Schumpeterian variant of endogenous growth theory is both theoretically and empirically progressive over neoclassical growth theory.

Suggested Citation

  • Michal Brzezinski & Michal Dzielinski, 2009. "Is endogenous growth theory degenerating? Another look at Lakatosian appraisal of growth theories," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(3), pages 243-263.
  • Handle: RePEc:taf:jecmet:v:16:y:2009:i:3:p:243-263 DOI: 10.1080/13501780903121675
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    References listed on IDEAS

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    1. Richard Arena, 2012. "Economic rationality and the emergence of institutions: a Schumpeterian view," Post-Print halshs-00941347, HAL.
    2. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211-211.
    3. Shionoya,Yuichi, 1997. "Schumpeter and the Idea of Social Science," Cambridge Books, Cambridge University Press, number 9780521430340, December.
    4. Enrico Santarelli & Enzo Pesciarelli, 1990. "The Emergence of a Vision: The Development of Schumpeter's Theory of Entrepreneurship," History of Political Economy, Duke University Press, vol. 22(4), pages 677-696, Winter.
    5. H. Peyton Young, 1996. "The Economics of Convention," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 105-122, Spring.
    6. Powell, Walter W, 1996. "Weber and Schumpeter: Turbulent Lives, Ideas Never at Rest," Industrial and Corporate Change, Oxford University Press, vol. 5(3), pages 917-924.
    7. Richard Arena & Agnès Festré, 2006. "Knowledge and Beliefs in Economics: The Case of the Austrian Tradition," Chapters,in: Knowledge, Beliefs and Economics, chapter 3 Edward Elgar Publishing.
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    Cited by:

    1. Brahmachari, Deborshi, 2016. "Neoclassical Economics as a Method of Scientific Research Program : A review of existing literature," MPRA Paper 75341, University Library of Munich, Germany.

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