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The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies

  • Amavilah, Voxi Heinrich

Economists failed badly both to predict and solve the Great Global Recession of 2008-2010 for two interconnected reasons. The first is that economics has moved too far away from its social foundations. The second reason is that the positivist economic methodology that economics follows has produced both benefits and costs, perhaps even costs than benefits, one may argue. This paper looks at the available evidence (not exhaustively) to argue for a Caldwellian methodological pluralism. It illustrates the advantages of such a methodological approach as well as the disadvantages of its alternatives, especially monolithic positivism.

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File URL: http://mpra.ub.uni-muenchen.de/44656/1/MPRA_paper_44656.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44656.

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Date of creation: 30 Nov 2012
Date of revision: 28 Feb 2013
Handle: RePEc:pra:mprapa:44656
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  1. Colander, David & Klamer, Arjo, 1987. "The Making of an Economist," Journal of Economic Perspectives, American Economic Association, vol. 1(2), pages 95-111, Fall.
  2. Edward E. Leamer, 1982. "Let's Take the Con Out of Econometrics," UCLA Economics Working Papers 239, UCLA Department of Economics.
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  8. McCloskey, Donald N, 1976. "Does the Past Have Useful Economics?," Journal of Economic Literature, American Economic Association, vol. 14(2), pages 434-61, June.
  9. Mayer, Thomas, 1975. "Selecting Economic Hypotheses by Goodness of Fit," Economic Journal, Royal Economic Society, vol. 85(340), pages 877-83, December.
  10. Voxi Heinrich Amavilah, 2009. "Knowledge of African countries: production and value of doctoral dissertations," Applied Economics, Taylor & Francis Journals, vol. 41(8), pages 977-989.
  11. Hansen, Bruce E, 1996. "Methodology: Alchemy or Science: Review Article," Economic Journal, Royal Economic Society, vol. 106(438), pages 1398-1413, September.
  12. Thomas Mayer, . "Data Mining: A Reconsideration," Department of Economics 97-15, California Davis - Department of Economics.
  13. V. Heinrich S. Amavilah, 2005. "The Structure and Equilibrium Conditions of a Generalized Economic Canopy: A Note," Development and Comp Systems 0505015, EconWPA.
  14. Jack Hirshleifer, 1977. "Economics from a Biological Viewpoint," UCLA Economics Working Papers 087, UCLA Department of Economics.
  15. Daniel W. Bromley, 1997. "Rethinking Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1383-1393.
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  17. Peter C.B. Phillips, 1988. "Reflections on Econometric Methodology," Cowles Foundation Discussion Papers 893, Cowles Foundation for Research in Economics, Yale University.
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  19. McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June.
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