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Comparing economic theories or: Pluralism in economics and the need for a comparative approach to scientific research programmes

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  • Heise, Arne

Abstract

Pluralism in economics appears to be a double-edged sword: we need more than one theory to grasp and explain the entire economic world, yet a plurality of possible explanations undermines the aspiration of the economic discipline to provide 'objective knowledge' in the singular of the 'one world one truth' conception. Therefore, pluralism is often equated with relativism and obscurantism. In this article, I will explore both the demand for pluralism and the fear of relativism and obscurantism, scrutinising each position in order to evaluate their respective justification and devising a methodological proposal that may appease both the defender and the sceptic of economic pluralism.

Suggested Citation

  • Heise, Arne, 2020. "Comparing economic theories or: Pluralism in economics and the need for a comparative approach to scientific research programmes," ZÖSS-Discussion Papers 78, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    • Handle: RePEc:zbw:cessdp:78
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    References listed on IDEAS

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    1. Arne Heise & Toralf Pusch, 2020. "Introducing minimum wages in Germany employment effects in a post Keynesian perspective," Journal of Evolutionary Economics, Springer, vol. 30(5), pages 1515-1532, November.
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    14. Wolff, Richard D. & Resnick, Stephen A., 2012. "Contending Economic Theories: Neoclassical, Keynesian, and Marxian," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262517833, April.
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    16. Braun, Helge & Döhrn, Roland & Krause, Michael & Micheli, Martin & Schmidt, Torsten, 2020. "Macroeconomic Long-Run Effects of the German Minimum Wage when Labor Markets are Frictional," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 351-386.
    17. Brahmachari, Deborshi, 2016. "Neoclassical Economics as a Method of Scientific Research Program : A review of existing literature," MPRA Paper 75341, University Library of Munich, Germany.
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    Cited by:

    1. Turan Yay, 2021. "Method and scope in Joseph A. Schumpeter's economics: a pluralist perspective," Post-Print hal-03374881, HAL.
    2. Reinke, Rouven, 2021. "Zur ungleichen Verteilung von Macht innerhalb der Volkswirtschaftslehre in Deutschland: Eine feld-und kapitaltheoretische Betrachtung," ZÖSS-Discussion Papers 91, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    3. Rouven Reinke, 2021. "A critical note on the scientific conception of economics: claiming for a methodological pluralism," Post-Print hal-03374887, HAL.
    4. Reinke, Rouven, 2020. "Das Wissenschaftsverständnis der Volkswirtschaftslehre in der Kritik: Implikationen für die Vision einer pluralen Ökonomik," ZÖSS-Discussion Papers 79, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    5. Reinke, Rouven, 2021. "Das Verhältnis von neuer Wirtschaftssoziologie und moderner Volkswirtschaftslehre: Möglichkeiten und Grenzen einer soziologischen Kritik am (neoklassischen) Mainstream," ZÖSS-Discussion Papers 83, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).

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    More about this item

    Keywords

    Pluralism; Methodology; Paradigm;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

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