Economics has become polarised. On the one hand there is a body of economists who concern themselves with progressing their discipline via an increasing use of mathematical modelling. On the other hand, there are economists who believe passionately that in order for economics to be useful it needs to take account of its history, its impact on society and its real world applications.
The contributors to this book fix their scholarly glare on the heterodox section of economics, and in particular upon critical realist approaches to the subject. Experts from a variety of perspectives have come together in these pages to examine the impact and usefulness of critical realism in relation to the different spheres within economics.
Notable for its contributions from such distinguished figures as Clive Granger, Edward J. Nell and Peter J. Boettke - this book deserves to find a ready audience across the economics spectrum.
1. Transforming Economics? On Heterodox Economics and the Ontological Turn in Economic Methodology 2. Transforming Post Keynesian Economics: Critical Realism and the Post Keynesian Project 3. Macroeconomic Theory, (Critical) Realism and Capitalism 4. Critical Realism and Transformational Growth 5. Critical Realism and Econometrics: An Econometrician's Viewpoint 6. Critical Realism and Feminist Economics: How well do they get along? 7. The Agency-Structure Model and the Embedded Individual in Heterodox Economics 8. Critical Realism and the Heterodox Tradition in Economics 9. Economics as Social Theory and the New Economic Sociology 10. The Really Real in Economics 11. Addressing the Critical and the Real in Critical Realism 12. Economics as Symptom 13. The Economics of Institutions and the Institutions of Economics 14. A Note on Critical Realism, Scientific Exegesis and Schumpeter 15. Tranforming Methodology: Critical Realism and Recent Economic Methodology
Social Theory is experiencing something of a revival within economics. Critical analyses of the particular nature of the subject matter of social studies and of the types of method, categories and modes of explanation that can legitimately be endorsed for the scientific study of social objects, are re-emerging. Economists are again addressing such issues as the relationship between agency and structure, between economy and the rest of society, and between the enquirer and the object of enquiry. There is a renewed interest in elaborating basic categories such as causation, competition, culture, discrimination, evolution, money, need, order, organization, power probability, process, rationality, technology, time, truth, uncertainty, value etc.
The objective for this series is to facilitate this revival further. In contemporary economics the label “theory” has been appropriated by a group that confines itself to largely asocial, ahistorical, mathematical “modelling”. Economics as Social Theory thus reclaims the “Theory” label, offering a platform for alternative rigorous, but broader and more critical conceptions of theorizing.