The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies
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.
|Date of creation:||30 Nov 2012|
|Date of revision:||28 Feb 2013|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jack Hirshleifer, 1977.
"Economics from a Biological Viewpoint,"
UCLA Economics Working Papers
087, UCLA Department of Economics.
- von Hayek, Friedrich August, 1974.
"The Pretence of Knowledge,"
Nobel Prize in Economics documents
1974-2, Nobel Prize Committee.
- David Colander, 2005.
"The Making of an Economist Redux,"
Journal of Economic Perspectives,
American Economic Association, vol. 19(1), pages 175-198, Winter.
- Tinbergen, Jan, 1981.
"The Use of Models: Experience and Prospects,"
American Economic Review,
American Economic Association, vol. 71(6), pages 17-22, Special I.
- Mayer, Thomas, 1975. "Selecting Economic Hypotheses by Goodness of Fit," Economic Journal, Royal Economic Society, vol. 85(340), pages 877-883, December.
- Hirshleifer, Jack, 1985. "The Expanding Domain of Economics," American Economic Review, American Economic Association, vol. 75(6), pages 53-68, December.
- V. Heinrich S. Amavilah, 2005. "The Structure and Equilibrium Conditions of a Generalized Economic Canopy: A Note," Development and Comp Systems 0505015, EconWPA.
- Colander, David, 2003.
"The Aging of an Economist,"
Journal of the History of Economic Thought,
Cambridge University Press, vol. 25(02), pages 157-176, June.
- Uskali Maki, 1995. "Diagnosing McCloskey," Journal of Economic Literature, American Economic Association, vol. 33(3), pages 1300-1318, September.
- Edward E. Leamer, 1982.
"Let's Take the Con Out of Econometrics,"
UCLA Economics Working Papers
239, UCLA Department of Economics.
- Spanos,Aris, 1986. "Statistical Foundations of Econometric Modelling," Cambridge Books, Cambridge University Press, number 9780521269124, December.
- Hansen, Bruce E, 1996. "Methodology: Alchemy or Science: Review Article," Economic Journal, Royal Economic Society, vol. 106(438), pages 1398-1413, September.
- Adrian C. Darnell & J. L. Evans, 1990. "The Limits of Econometrics," Books, Edward Elgar Publishing, number 119.
- Thomas Mayer, 2001.
"Data mining: a reconsideration,"
Journal of Economic Methodology,
Taylor & Francis Journals, vol. 7(2), pages 183-194.
- McCloskey, Donald N, 1976. "Does the Past Have Useful Economics?," Journal of Economic Literature, American Economic Association, vol. 14(2), pages 434-461, June.
- Peter C.B. Phillips, 1988.
"Reflections on Econometric Methodology,"
Cowles Foundation Discussion Papers
893, Cowles Foundation for Research in Economics, Yale University.
- Daniel W. Bromley, 1997. "Rethinking Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1383-1393.
- McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June.
- Mayer, Thomas, 1980. "Economics as a Hard Science: Realistic Goal or Wishful Thinking?," Economic Inquiry, Western Economic Association International, vol. 18(2), pages 165-178, April.
- 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.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:44656. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.