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Social Provisioning Process and Socio-Economic Modeling

  • Jo, Tae-Hee

The radical difference between orthodox and heterodox economics emanates from the different views of the capitalist socio-economic system. Economics as the science of social provisioning felicitously describes the heterodox view that economy is part of the evolving social order; social agency is embedded in the social and cultural context; a socio-economic change is driven by technical and cultural changes; and the provisioning process is open-ended. Such a perspective on economy offers ample methodological and theoretical implications for modeling the capitalist economy in a realistic manner. It lends itself especially to the micro-macro synthetic approach. Thus the objective of this paper is twofold: 1) to examine how the concept of the social provisioning process can be clarified and expanded by virtue of recent development in heterodox methodology and 2) to discuss how methodological development would nourish the heterodox modeling and theorizing of the capitalist social provisioning process.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 28969.

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Date of creation: 15 Mar 2011
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Handle: RePEc:pra:mprapa:28969
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  1. Kurt Dopfer & Jason Potts, 2004. "Evolutionary realism: a new ontology for economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 195-212.
  2. Marilyn Power, 2004. "Social Provisioning As A Starting Point For Feminist Economics," Feminist Economics, Taylor & Francis Journals, vol. 10(3), pages 3-19.
  3. Mayhew, Anne, 1998. "On the Difficulty of Evolutionary Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 22(4), pages 449-61, July.
  4. Lucas, Robert E, Jr, 1980. "Methods and Problems in Business Cycle Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(4), pages 696-715, November.
  5. Sheila C. Dow, 2005. "Axioms and Babylonian thought: a reply," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 27(3), pages 385-391, April.
  6. David Colander, 2003. "Are Institutionalists an Endangered Species?," Middlebury College Working Paper Series 0303, Middlebury College, Department of Economics.
  7. Rima, Ingrid H., 1994. "The Role of Numeracy in the History of Economic Analysis," Journal of the History of Economic Thought, Cambridge University Press, vol. 16(02), pages 188-201, September.
  8. Lee, Frederic & Jo, Tae-Hee, 2010. "Social surplus approach and heterodox economics," MPRA Paper 27636, University Library of Munich, Germany.
  9. Frederic S. Lee, 2002. "Theory creation and the methodological foundation of Post Keynesian economics," Cambridge Journal of Economics, Oxford University Press, vol. 26(6), pages 789-804, November.
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