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Variety of Methodological Approach in Economics

Dow S (2007) Variety of Methodological Approach in Economics, Journal of Economic Surveys, 21 (3), pp. 447-465.

It has been argued by some that the distinction between orthodox economics and heterodox economics does not fit the growing variety in economic theory, unified by a common methodological approach. On the other hand, it remains a central characteristic of heterodox economics that it does not share this methodological approach, but rather represents a range of alternative methodological approaches. The paper explores the evidence, and arguments, for variety in economics at different levels, and a range of issues which arise. This requires in turn a discussion of the meaning of variety in economics at the different levels of reality, methodology, method and theory. It is concluded that there is scope for more, rather than less, variety in economic methodologies, as well as within methodologies. Further, if variety is not to take the form of “anything goes”, then critical discussion by economists of different approaches to economics, and of variety itself, is required.

pluralism; methodology

AuthorsDow Sheila
Publication date07/2007
Publication date online15/06/2007
PublisherBlackwell Publishing
ISSN 0950-0804

Journal of Economic Surveys: Volume 21, Issue 3 (2007-07)

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