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Realism and Inference in Economics: A Note

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  • Dr Paul Downward

Abstract

Despite the widespread appeal to realism as a philosophical doctrine in political economy in general and post Keynesian economics in particular, a variety of epistemological approaches have evolved. This paper reviews these approaches and, based on a synthesis of these ideas offers a broader more operational notion of inference, consistent with the epistemology of Keynes, that includes a constructive role for econometrics.

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  • Dr Paul Downward, "undated". "Realism and Inference in Economics: A Note," Working Papers 98-7, Staffordshire University, Business School.
  • Handle: RePEc:wuk:stafwp:98-7
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    References listed on IDEAS

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    1. Lawson, Tony, 1989. "Realism and Instrumentalism in the Development of Econometrics," Oxford Economic Papers, Oxford University Press, vol. 41(1), pages 236-258, January.
    2. Paul Downward, "undated". "Risk, Uncertainty and Inference in Post Keynesian Economics:A Realist Commentary," Working Papers 98-8, Staffordshire University, Business School.
    3. Tony Lawson, 1994. "The Nature of Post Keynesianism and Its Links to Other Traditions: A Realist Perspective," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 16(4), pages 503-538, July.
    4. Philip Arestis, 1992. "The Post-Keynesian Approach to Economics," Books, Edward Elgar Publishing, number 16.
    5. J. E. King, 1995. "Conversations with Post Keynesians," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37882-7, March.
    6. Sheila C. Dow, 2012. "Methodological Pluralism and Pluralism of Method," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 8, pages 129-139, Palgrave Macmillan.
    7. Lawson, Tony, 1995. "The 'Lucas Critique': A Generalisation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 19(2), pages 257-276, April.
    8. Sheila C. Dow & John Hillard (ed.), 1995. "Keynes, Knowledge And Uncertainty," Books, Edward Elgar Publishing, number 148.
    9. Lawson, Tony, 1989. "Abstraction, Tendencies and Stylised Facts: A Realist Approach to Economic Analysis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 13(1), pages 59-78, March.
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    Cited by:

    1. Paul Downward, "undated". "Risk, Uncertainty and Inference in Post Keynesian Economics:A Realist Commentary," Working Papers 98-8, Staffordshire University, Business School.

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