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A Meta-theoretical Assessment of the Decline of Scholastic Economics

Author

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  • Drakopoulos, Stavros A.
  • Gotsis, George

Abstract

The aim of this paper is to offer certain insights into the process of declining of scholastic economics in late medieval and early modern European intellectual circles. In this attempt, the paper adopts the metatheoretical framework of Laudan’s philosophy of science and introduces the concept of scientific research tradition in pre-classical economic thought. It then considers the features of scholastic research tradition, specifies its empirical and conceptual problems and indicates a general scenario of assessing its performance over time. Of primary importance, in this respect, becomes the issue of evaluating the external and internal factors of disintegrating of the scholastic tradition, whose constraints reflect its incorporation into a broader ethical analysis and necessitate its transformation into a more secular approach to economic phenomena.

Suggested Citation

  • Drakopoulos, Stavros A. & Gotsis, George, 2003. "A Meta-theoretical Assessment of the Decline of Scholastic Economics," MPRA Paper 12876, University Library of Munich, Germany, revised 2004.
  • Handle: RePEc:pra:mprapa:12876
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    File URL: https://mpra.ub.uni-muenchen.de/12876/1/MPRA_paper_12876.pdf
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    References listed on IDEAS

    as
    1. de Roover, Raymond, 1958. "The Concept of the Just Price: Theory and Economic Policy," The Journal of Economic History, Cambridge University Press, vol. 18(04), pages 418-434, December.
    2. Deane,Phyllis, 1978. "The Evolution of Economic Ideas," Cambridge Books, Cambridge University Press, number 9780521293150.
    3. O. F. Hamouda & B. B. Price, 1997. "The justice of the just price," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 4(2), pages 191-216.
    4. André Lapidus, 1997. "Metal, Money, and the Prince: John Buridan and Nicholas Oresme after Thomas Aquinas," History of Political Economy, Duke University Press, vol. 29(1), pages 21-53, Spring.
    5. Screpanti, Ernesto & Zamagni, Stefano, 2005. "An Outline of the History of Economic Thought," OUP Catalogue, Oxford University Press, edition 2, number 9780199279142.
    6. Steven Rappaport, 2001. "Economic models as mini-theories," Journal of Economic Methodology, Taylor & Francis Journals, vol. 8(2), pages 275-285.
    7. Huerta de Soto, Jesus, 1996. "New Light on the Prehistory of the Theory of Banking and the School of Salamanca," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 9(2), pages 59-81.
    8. Langholm,Odd, 1998. "The Legacy of Scholasticism in Economic Thought," Cambridge Books, Cambridge University Press, number 9780521621595.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Laudan and Economics; Scholastic Economics; Research Traditions; economic ethics;

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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