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Critical reflections on a realist interpretation of Friedman’s ‘Methodology of Positive Economics’

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  • Edward Mariyani-Squire

Abstract

Uskali Mäki has offered an innovative scientific realist account of Milton Friedman’s 1953 essay, ‘The Methodology of Positive Economics’, which directly challenges the dominant instrumentalist interpretation. This paper offers critical reflections on Mäki’s approach and interpretation. It is argued that Mäki’s method of rereading-rewriting the text is problematic; that an unforced instrumentalist account of unrealistic assumptions can be extracted from the text itself; and that seemingly realist passages can be plausibly read as expressing an instrumentalist stance.

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  • Edward Mariyani-Squire, 2017. "Critical reflections on a realist interpretation of Friedman’s ‘Methodology of Positive Economics’," Journal of Economic Methodology, Taylor & Francis Journals, vol. 24(1), pages 69-89, January.
    • Handle: RePEc:taf:jecmet:v:24:y:2017:i:1:p:69-89
    DOI: 10.1080/1350178X.2017.1279743
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    Cited by:

    1. Galbács Peter, 2021. "What did it take for Lucas to set up ‘useful’ analogue systems in monetary business cycle theory?," Economics and Business Review, Sciendo, vol. 7(3), pages 61-82, September.
    2. Peter Galbács, 2019. "Friedman’s instrumentalism in F53. A Weberian reading," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 12(2), pages 31-53, May.
    3. Galbács, Péter, 2018. "A közgazdaságtan felszabadítása. A neoklasszikus ortodoxia és az intézményi közgazdaságtan közötti ellentét néhány módszertani kérdése [Freedom for economics. Some methodological aspects of the neo," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 44-65.

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