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Mainstream Economic Methodology

In: Foundations for New Economic Thinking

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  • Sheila C. Dow

    (University of Stirling)

Abstract

What might reasonably be expected of a survey of mainstream economic methodology would be a statement as to the nature and role of methodology, and a discussion of how it impinged on economic practice. However, the mainstream understanding of the nature and role of methodology has been in a state of transition. Further, mainstream economics has evolved virtually independently of explicit methodological analysis. Nevertheless, the outcome of current thinking among methodologists could well be the development of a closer bond between methodology and practice. Theorists too are contemplating potentially profound methodological changes. This is therefore a particularly good time to take stock and identify the direction of change and its implications for the future of mainstream economics.1

Suggested Citation

  • Sheila C. Dow, 2012. "Mainstream Economic Methodology," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 7, pages 105-128, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-00072-9_7
    DOI: 10.1057/9781137000729_7
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    Cited by:

    1. Knoll Bodo, 2011. "Vom Wert der Blase – Die Funktion der Spekulation in der Marktwirtschaft / On the Value of Bubbles – The Function of Speculation for a Market Order," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 62(1), pages 115-144, January.
    2. Michael McLure, 2004. "Pure Duals, Derived Duals and Paretian Fiscal Sociology," Economics Discussion / Working Papers 04-25, The University of Western Australia, Department of Economics.
    3. Geoffrey M. Hodgson, 2013. "Dr Blaug's diagnosis: is economics sick?," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 8, pages 78-97, Edward Elgar Publishing.
    4. Jeroen C. J. M. van den Bergh & John M. Gowdy, 2003. "The microfoundations of macroeconomics: an evolutionary perspective," Cambridge Journal of Economics, Oxford University Press, vol. 27(1), pages 65-84, January.
    5. Lukáš Kovanda, 2010. "Kritický realismus: ontologická báze postkeynesovské ekonomie [Critical Realism as an Ontological Basis of Post-Keynesianism]," Politická ekonomie, Prague University of Economics and Business, vol. 2010(5), pages 608-622.
    6. Philipp Schreck & Dominik Aaken & Karl Homann, 2020. "“There’s Life in the Old Dog Yet”: The Homo economicus model and its value for behavioral ethics," Journal of Business Economics, Springer, vol. 90(3), pages 401-425, April.
    7. Kakarot-Handtke, Egmont, 2013. "Understanding Profit and the Markets: The Canonical Model," MPRA Paper 48691, University Library of Munich, Germany.
    8. Alexander Dow & Sheila Dow & Alan Hutton, 1997. "The Scottish Political Economy Tradition and Modern Economics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 44(4), pages 368-383, September.

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