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Economics and reality

New York: Routledge (1997)

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  1. Social Ontology.Brian Epstein - 2018 - Stanford Encyclopedia of Philosophy.
    Social ontology is the study of the nature and properties of the social world. It is concerned with analyzing the various entities in the world that arise from social interaction. -/- A prominent topic in social ontology is the analysis of social groups. Do social groups exist at all? If so, what sorts of entities are they, and how are they created? Is a social group distinct from the collection of people who are its members, and if so, how is (...)
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  • Harnessing SD and CSR within Corporate Self‐regulation of Weak Economies— A Meta‐regulation Approach.Mia Mahmudur Rahim - 2013 - Business and Society Review 118 (4):513-537.
    The semantic of the terms “sustainable development” and “corporate social responsibility” have changed over time to a point where these concepts have become two interrelated processes for ensuring the far‐reaching development of society. Their convergence has given dimension to the environmental and corporate regulation mechanisms in strong economies. This article deals with the question of how the ethos of this convergence could be incorporated into the self‐regulation of businesses in weak economies where nonlegal drivers are either inadequate or inefficient. It (...)
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  • Why People are Atypical Agents.Don Ross - 2002 - Philosophical Papers 31 (1):87-116.
    Abstract In this paper, I argue that the traditional philosophical approach of taking cognitively and emotionally competent adult people to be the prototypical instances of agency should be revised in light of current work in the behavioral sciences. Logical consistency in application is better served by taking simple goal-directed and feedback-governed systems such as insects as the prototypes of the concept of agency, with people being agents ?by extension? in the same sense as countries or corporations.
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  • Prediction and Novel Facts in the Methodology of Scientific Research Programs.Wenceslao J. Gonzalez - 2015 - In Philosophico-Methodological Analysis of Prediction and its Role in Economics. Cham: Imprint: Springer. pp. 103-124.
    In the methodology of scientific research programs (MSRP) there are important features on the problem of prediction, especially regarding novel facts. In his approach, Imre Lakatos proposed three different levels on prediction: aim, process, and assessment. Chapter 5 pays attention to the characterization of prediction in the methodology of research programs. Thus, it takes into account several features: (1) its pragmatic characterization, (2) the logical perspective as a proposition, (3) the epistemological component, (4) its role in the appraisal of research (...)
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  • Critical Realism’s Critique of Methodological Individualism in Neoclassical Economics.S. M. Reza Amiri Tehrani - forthcoming - Persian Journal for the Methodology of Social Sciences and Humanities:1-24.
    The critique of philosophical foundations of neoclassical economics is significant, because of its hegemony on economic education and research programs in Iran and worldwide academies. Due to an epistemological fallacy, methodological individualism plays a prominent role in the philosophy of economic; since the ontological aspects of economy are reduced to methodological considerations. Accordingly, critique of methodological individualism is regarded as the main entry for philosophical analysis of neoclassical economics. This article aims to analyze and appraise the methodological individualism from critical (...)
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  • Agency and Causal Explanation in Economics. Virtues and Economics, vol 5.Peter Róna & László Zsolnai (eds.) - 2019 - Springer.
    This open access book provides an exploration of the consequences of the ontological differences between natural and social objects (sometimes described as objects of nature and objects of thought) in the workings of causal and agency relationships. One of its important and possibly original conclusions is that causal and agency relationships do not encompass all of the dependent relationships encountered in social life. The idea that social reality is contingent has been known (and largely undisputed) at least since Wittgenstein’s “On (...)
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  • Theorizing routines with computational sequence analysis : a critical realism framework.Zhewei Zhang, Habin Lee, Youngjin Yoo & Youngseok Choi - forthcoming - Journal of the Association for Information Systems.
    We develop a methodological framework to develop process theories on routines by leveraging large volumes of digital trace data following critical realism principles. Our framework begins with collecting and preprocessing digital trace data, corresponding to the empirically observed experience of critical realism. In the second and third steps of the framework, we identify a finite set of similar repetitive patterns (routines) through computational analysis. We accomplish this by combining frequent subsequence mining and clustering analysis to transform empirical observation into a (...)
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  • The Bitcoin protocol as a system of power.Efpraxia D. Zamani - 2022 - Ethics and Information Technology 24 (1):1-14.
    In this study, I use the Critical Realism perspective of power to explain how the Bitcoin protocol operates as a system of power. I trace the ideological underpinnings of the protocol in the Cypherpunk movement to consider how notions of power shaped the protocol. The protocol by design encompasses structures, namely Proof of Work and Trustlessness that reproduce asymmetrical constraints on the entities that comprise it. These constraining structures generate constraining mechanisms, those of cost effectiveness and deanonymisation, which further restrict (...)
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  • Limits to levels in the methodological individualism–holism debate.Julie Zahle - 2019 - Synthese 198 (7):6435-6454.
    It is currently common to conceive of the classic methodological individualism–holism debate in level terms. Accordingly, the dispute is taken to concern the proper level of explanations in the social sciences. In this paper, I argue that the debate is not apt to be characterized in level terms. The reason is that widely adopted notions of individualist explanations do not qualify as individual-level explanations because they span multiple levels. I defend this claim relative to supervenience, emergence, and other accounts of (...)
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  • Limits to levels in the methodological individualism–holism debate.Julie Zahle - 2019 - Synthese 198 (7):6435-6454.
    It is currently common to conceive of the classic methodological individualism–holism debate in level terms. Accordingly, the dispute is taken to concern the proper level of explanations in the social sciences. In this paper, I argue that the debate is not apt to be characterized in level terms. The reason is that widely adopted notions of individualist explanations do not qualify as individual-level explanations because they span multiple levels. I defend this claim relative to supervenience, emergence, and other accounts of (...)
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  • Scientists’ Ontological and Epistemological Views about Science from the Perspective of Critical Realism.Robyn Yucel - 2018 - Science & Education 27 (5-6):407-433.
    Including the perspectives of scientists about the nature and process of science is important for an authentic and nuanced portrayal of science in science education. The small number of studies that have explored scientists’ worldviews about science has thus far generated contradictory findings, with recent studies claiming that scientists simultaneously hold contradictory sophisticated and naïve views. This article reports on an exploratory study that uses the framework of Bhaskar’s critical realism to elicit and separately analyse academic scientists’ ontological and epistemological (...)
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  • Econophysics: making sense of a chimera.Adrian K. Yee - 2021 - European Journal for Philosophy of Science 11 (4):1-34.
    The history of economic thought witnessed several prominent economists who took seriously models and concepts in physics for the elucidation and prediction of economic phenomena. Econophysics is an emerging discipline at the intersection of heterodox economics and the physics of complex systems, with practitioners typically engaged in two overlapping but distinct methodological programs. The first is to export mathematical methods used in physics for the purposes of studying economic phenomena. The second is to export mechanisms in physics into economics. A (...)
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  • Review of Peter Spiegler's Behind the model: a constructive critique of economic modelling. Cambridge: Cambridge University Press. 2015. 201pp. [REVIEW]Nicolas Wüthrich - 2017 - Erasmus Journal for Philosophy and Economics 10 (1):124-132.
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  • Emergence à la Systems Theory: Epistemological Totalausschluss or Ontological Novelty?Poe Yu-ze Wan - 2011 - Philosophy of the Social Sciences 41 (2):178-210.
    In this article, I examine Luhmann’s, Bunge’s and others’ views on emergence, and argue that Luhmann’s epistemological construal of emergence in terms of Totalausschluss (total exclusion) is both ontologically flawed and detrimental to an appropriate understanding of the distinctive features of social emergence. By contrast, Bunge’s rational emergentism, his CESM model, and Wimsatt’s characterization of emergence as nonaggregativity provide a useful framework to investigate emergence. While researchers in the field of social theory and sociology tend to regard Luhmann as the (...)
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  • Philosophical Problems with Social Research on Health Inequalities.Steven P. Wainwright & Angus Forbes - 2000 - Health Care Analysis 8 (3):259-277.
    This paper offers a realist critique of socialresearch on health inequalities. A conspectus of thefield of health inequalities research identifies twomain research approaches: the positivist quantitativesurvey and the interpretivist qualitative `casestudy'. We argue that both approaches suffer fromserious philosophical limitations. We suggest that aturn to realism offers a productive `third way' bothfor the development of health inequality research inparticular and for the social scientific understandingof the complexities of the social world in general.
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  • Elder-Vass on the Causal Power of Social Structures.Tobias Hansson Wahlberg - 2014 - Philosophy of the Social Sciences 44 (6):774-791.
    In this review essay, I examine the central tenets of sociologist Dave Elder-Vass’s recent contribution to social ontology, as put forth in his book The Causal Power of Social Structures: Emergence, Structure and Agency. Elder-Vass takes issue with ontological individualists and maintains that social structures exist and have causal powers in their own right. I argue that he fails to establish his main theses: he shows neither that social structures have causal powers “in their own right” (in any sense of (...)
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  • Crying Hegel in Art History.Ian Verstegen - 2016 - Journal of Critical Realism 15 (2):107-121.
    Within cultural history there is a widespread eschewal of speculative reasoning. This article notes the complicity of the general postmodern avoidance of metanarratives with Anglo-Saxon empiricism and locates the major problem facing cultural history in postmodernism's conflation of trajectories and teleologies. Any discussion of the directionality of history is imputed to be a full-blown teleology. Using previous discussions from different fields, the difference between a teleology and trajectory is defended and, after clarifying certain confusions, it is argued that trajectories, as (...)
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  • Ontology and Methodology in Contemporary Philosophy of Social Science: Status Quaestionis.Jeroen van Bouwel - 2003 - Philosophica 71 (1).
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  • What Has Realism Got To Do With It?Tony Lawson - 1999 - Economics and Philosophy 15 (2):269.
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  • Post keynesiánská makroekonomická metodologie a její odlišnosti od hlavního proudu ekonomie.Jiří Štekláč - 2013 - E-Logos 20 (1):1-18.
    Během nedávno započaté hospodářské krize se paralelně s aplikací netradičních hospodářských politik zvýšil tlak na potlačení ortodoxních ekonomických teorií hlavního proudu a po několika desetiletích se v ekonomii znovu otevírá prostor pro nové teorie, metodologie, paradigmata. Cíle této práce jsou tři. Cílem prvním je obecná sumarizace základních východisek post keynesiánské ekonomické metodologie. Cílem druhým je pak jasné vymezení této heterogenní teorie vůči neoklasické metodologii s ambicí zcela od základů alternovat tuto starou metodologii. A konečně cílem třetím je analýza architektury post (...)
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  • A Credible-World Account of Biological Models.Sim-Hui Tee - 2018 - Axiomathes 28 (3):309-324.
    In a broad brush, biological models are often constructed in two general types: as a concrete model; as an abstract model. A concrete model is a material model such as model organisms, while an abstract model is a mathematical or computational model consists of equations or algorithms. Though there are types of biological models that cannot be strictly categorized as either concrete or abstract, they are falling somewhere in between this spectrum. In view of the fact that biological phenomena are (...)
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  • The complexity of postpartum mental health and illness: a critical realist study.Wendy Sword, Alexander M. Clark, Kathleen Hegadoren, Sandra Brooks & Dawn Kingston - 2012 - Nursing Inquiry 19 (1):51-62.
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  • Emancipatory marketing and the emancipation of marketing research: a critical realist perspective.Hamish Simmonds - 2018 - Journal of Critical Realism 17 (5):466-491.
    ABSTRACTThis paper is premised on the call to re-orientate marketing as a contributing social science. It gathers together criticisms of marketing research which identify inconsistencies that prevent our progress. It posits that we are driven to reproduce these inconsistencies because of a closed-system of practice and because of the generative absence of an effective, reflexive and integrative metatheoretical structure. In response to these problems, the paper aims to offer an integrative metatheoretical structure from which to ground our research and intervene (...)
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  • Pragmatism, realism and the economist/economy divide.Alan Shipman - 2003 - Foundations of Science 8 (1):23-50.
    A centipede can walk until it thinks about howit does so. Thereafter it stumbles, over thesheer impossibility of the information andcoordination required. Life in the economy islittle different. Those engaged in productionand exchange discover, pragmatically, ways tomake them work. Those observing the processsee, realistically, the immense improbabilitythat it should do so. That most economies workin practice, but must pass such toughteleological tests to succeed in theory,highlights a difference between players' andspectators' outlook which may help to explainwhy the game has repeatedly (...)
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  • Book Reviews. [REVIEW]Gabriela Lucia Sabau - 2003 - Philosophy of the Social Sciences 33 (4):518-527.
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  • Dissecting the Black Swan.Jochen Runde - 2009 - Critical Review: A Journal of Politics and Society 21 (4):491-505.
    ABSTRACT What constitutes a Black Swan? And under what conditions may a Black Swan be expected to arise? As Nassim Taleb describes it, a Black Swan is an event that displays three key properties, the two most important of which are that: (1) it is not even imagined as a possibility prior to its occurrence; and (2) it is in some way significant in its impact. It follows that whether or not an event counts as a Black Swan depends on (...)
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  • Epistemological implications of economic complexity.J. Barkley Rosser - 2004 - Annals of the Japan Association for Philosophy of Science 13 (1):45-57.
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  • Idealization and the Aims of Economics: Three Cheers for Instrumentalism.Julian Reiss - 2012 - Economics and Philosophy 28 (3):363-383.
    This paper aims (a) to provide characterizations of realism and instrumentalism that are philosophically interesting and applicable to economics; and (b) to defend instrumentalism against realism as a methodological stance in economics. Starting point is the observation that ‘all models are false’, which, or so I argue, is difficult to square with the realist's aim of truth, even if the latter is understood as ‘partial’ or ‘approximate’. The three cheers in favour of instrumentalism are: (1) Once we have usefulness, truth (...)
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  • Do we need mechanisms in the social sciences?Julian Reiss - 2007 - Philosophy of the Social Sciences 37 (2):163-184.
    A recent movement in the social sciences and philosophy of the social sciences focuses on mechanisms as a central analytical unit. Starting from a pluralist perspective on the aims of the social sciences, I argue that there are a number of important aims to which knowledge about mechanisms—whatever their virtues relative to other aims—contributes very little at best and that investigating mechanisms is therefore a methodological strategy with fairly limited applicability. Key Words: social science • mechanisms • explanation • critical (...)
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  • Financial Risk Models in the Light of the Banking Crisis 2007–2008.Mattia L. Rattaggi - 2012 - Journal of Critical Realism 11 (4):462-486.
    The financial crisis that began in the US real-estate market in 2007 and culminated in a global economic slump showed bluntly how wrong financial risk models can be. This state of affairs has triggered a number of reactions and observations at the level of the specification and use of models and at a more conceptual/fundamental level. This article focuses on the epistemic features of such models – namely the nature, source, conditions of validity, structure and limits of the knowledge that (...)
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  • The scope of ontological theorising.Stephen Pratten - 2007 - Foundations of Science 12 (3):235-256.
    In recent years there have been an increasing number of contributions to economic methodology that develop or seek to reveal ontological positions. Despite this there is no agreement about either what ontology is or how it can contribute to economics. For some ontological theorising reveals the presuppositions of economists and its role is largely descriptive. Others see ontology as primarily engaged in setting out and defending a general account of some domain of reality and suggest that such a conception can (...)
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  • Realistic Models? Critical Realism and Statistical Models in the Social Sciences.Jonathan Pratschke - 2003 - Philosophica 71 (1):13-39.
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  • Critical Realism and the Process Account of Emergence.Stephen Pratten - 2013 - Journal for the Theory of Social Behaviour 43 (3):251-279.
    For advocates of critical realism emergence is a central theme. Critical realists typically ground their defence of the relative disciplinary autonomy of various sciences by arguing that emergent phenomena exist in a robust non-ontologically, non-causally reductionist sense. Despite the importance they attach to it critical realists have only recently begun to elaborate on emergence at length and systematically compare their own account with those developed by others. This paper clarifies what is distinctive about the critical realist account of emergence by (...)
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  • Realist evaluation: an immanent critique.Sam Porter - 2015 - Nursing Philosophy 16 (4):239-251.
    This paper critically analyses realist evaluation, focussing on its primary analytical concepts: mechanisms, contexts, and outcomes. Noting that nursing investigators have had difficulty in operationalizing the concepts of mechanism and context, it is argued that their confusion is at least partially the result of ambiguities, inconsistencies, and contradictions in the realist evaluation model. Problematic issues include the adoption of empiricist and idealist positions, oscillation between determinism and voluntarism, subsumption of agency under structure, and categorical confusion between context and mechanism. In (...)
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  • Free Will, Determinism and the “Problem” of Structure and Agency in the Social Sciences.Nigel Pleasants - 2019 - Philosophy of the Social Sciences 49 (1):3-30.
    The so-called “problem” of structure and agency is clearly related to the philosophical problem of free will and determinism, yet the central philosophical issues are not well understood by theorists of structure and agency in the social sciences. In this article I draw a map of the available stances on the metaphysics of free will and determinism. With the aid of this map the problem of structure and agency will be seen to dissolve. The problem of structure and agency is (...)
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  • Reclaiming the human stratum, acknowledging the complexity of social behaviour: From the linguistic turn to the social cube in theory of decision-making.Touko Piiparinen - 2006 - Journal for the Theory of Social Behaviour 36 (4):425–452.
    Roy Bhaskar's Social Cube model based on critical realist philosophy has not been dealt with in theory of decision-making at any length, nor has it raised any notable debate in social theory in general. The model demonstrates that decision-making is regulated and transformed by a constantly evolving complexity of mechanisms emerging from physical, mental, material, human and social levels of reality. With the help of this device, Graham Allison's argument against the Rational Actor Model that decisions are not so much (...)
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  • Institutional Normativity and the Evolution of Morals: A Behavioural Approach to Ethics. [REVIEW]Mark Peacock - 2010 - Journal of Business Ethics 95 (2):283 - 296.
    This article explores the normative nature of institutions. The starting point of my investigation is Kahneman, Knetsch and Thaler's notion of the reference transaction from which I derive a recursive relationship between normative judgements and social practices (i. e. regular, routinised actions in a social group), an implication of which I call the "self-justification of practices". Drawing on John Dewey, I demonstrate how prevailing practices influence normative standards and thus how institutions become normative entities. I then show how, despite the (...)
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  • Capitalism: Competition, Conflict, Crisis.Heikki Patomäki - 2017 - Journal of Critical Realism 16 (5):537-543.
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  • When are Purely Predictive Models Best?Robert Northcott - 2017 - Disputatio 9 (47):631-656.
    Can purely predictive models be useful in investigating causal systems? I argue ‘yes’. Moreover, in many cases not only are they useful, they are essential. The alternative is to stick to models or mechanisms drawn from well-understood theory. But a necessary condition for explanation is empirical success, and in many cases in social and field sciences such success can only be achieved by purely predictive models, not by ones drawn from theory. Alas, the attempt to use theory to achieve explanation (...)
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  • The Efficiency Question in Economics.Northcott Robert - 2018 - Philosophy of Science 85 (5):1140-1151.
    Much philosophical attention has been devoted to whether economic models explain, and more generally to how scientific models represent. Yet there is an issue more practically important to economics than either of these, which I label the efficiency question: regardless of how exactly models represent, or of whether their role is explanatory or something else, is current modeling practice an efficient way to achieve these goals – or should research efforts be redirected? In addition to showing how the efficiency question (...)
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  • Prediction versus accommodation in economics.Robert Northcott - 2019 - Journal of Economic Methodology 26 (1):59-69.
    Should we insist on prediction, i.e. on correctly forecasting the future? Or can we rest content with accommodation, i.e. empirical success only with respect to the past? I apply general considerations about this issue to the case of economics. In particular, I examine various ways in which mere accommodation can be sufficient, in order to see whether those ways apply to economics. Two conclusions result. First, an entanglement thesis: the need for prediction is entangled with the methodological role of orthodox (...)
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  • Opinion Polling and Election Predictions.Robert Northcott - 2015 - Philosophy of Science 82 (5):1260-1271.
    Election prediction by means of opinion polling is a rare empirical success story for social science. I examine the details of a prominent case, drawing two lessons of more general interest: Methodology over metaphysics. Traditional metaphysical criteria were not a useful guide to whether successful prediction would be possible; instead, the crucial thing was selecting an effective methodology. Which methodology? Success required sophisticated use of case-specific evidence from opinion polling. The pursuit of explanations via general theory or causal mechanisms, by (...)
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  • Economics Critique: Framing Procedures and Lawson's Realism in Economics.Jamie Morgan - 2012 - Journal of Critical Realism 11 (1):94-125.
    In the following review essay I explore the limitations of effective and constructive critique of Tony Lawson’s realism in economics as articulated in Ontology and Economics. In the first section I summarize the different framing procedures that shape the different critiques. In the second section I illustrate the limitations this creates using Caldwell’s contribution and in the third section I explore the way Lawson is conditioned to respond in terms of contestation, clarification and restatement. In the fourth section I add (...)
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  • Critical Realism and the Strategic-Relational Approach: Comments on a Non-Typical KWNS-SWPR Experience.Héctor Montiel - 2007 - Journal of Critical Realism 6 (1):84-110.
    This article opens with a brief analysis of key features of the Mexican semi-authoritarian regime. It then moves to a discussion of the critical realist positions and features that inform the strategic-relational approach. Attention is paid to social interactions and causal relations that enable the SRA to trace patterns of punctuated evolution and to highlight the processes of transformation. Since ideal types serve to highlight key characteristics in specifc phenomena, processes and actors, some features of ideal types of the state (...)
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  • Reorienting Economics? [REVIEW]Simon Mohun & Roberto Veneziani - 2012 - Philosophy of the Social Sciences 42 (1):126-145.
    Reorienting Economics analyzes many important issues in the social sciences. This article focuses on Lawson’s key methodological and epistemological claims concerning the role of mathematics in social theory. Lawson provides several forceful criticisms of the search for mathematical rigor for the mere sake of formalism. Yet his stronger claims on the extremely limited, if nonexistent, scope for formal analysis in the social sciences are less convincing. In general, his purely methodological approach does not provide robust foundations for reorienting economics.
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  • Learning critical realist research by example: political decision-making in transport.Steve Melia - 2020 - Journal of Critical Realism 19 (3):285-303.
    This article illustrates the process of applied critical realist research using a case study of political decision-making in transport. Critical realism is often used to analyse socio-political cha...
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  • Justice, Feasibility, and Social Science as it is.Emily McTernan - 2019 - Ethical Theory and Moral Practice 22 (1):27-40.
    Political philosophy offers a range of utopian proposals, from open borders to global egalitarianism. Some object that these proposals ought to be constrained by what is feasible, while others insist that what justice demands does not depend on what we can bring about. Currently, this debate is mired in disputes over the fundamental nature of justice and the ultimate purpose of political philosophy. I take a different approach, proposing that we should consider which facts could fill out a feasibility requirement. (...)
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  • Rules, Social Ontology and Collective Identity.Nuno Martins - 2009 - Journal for the Theory of Social Behaviour 39 (3):323-344.
    Mainstream game theory explains cooperation as the outcome of the interaction of agents who permanently pursue their individual goals. Amartya Sen argues instead that cooperation can only be understood by positing a type of rule-following behaviour that can be out of phase with the pursuit of individual goals, due to the existence of a collective identity. However, Sen does not clarify the ontological preconditions for the type of social behaviour he describes. I will argue that Sen's account of collective identity (...)
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  • Lebret’s Christian-inspired societal project and integral human development.Nuno Martins & Vítor Teixeira - 2021 - Journal of Global Ethics 17 (2):167-184.
    In this article, we describe how Louis-Joseph Lebret’s work, propelled by his human-centred spirituality, contributed to the development of an approach aimed at the transformation of social and eco...
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  • Extensionalism and intensionalism in the realist-SSK ‘debate’.Edward Mariyani-Squire - 2010 - Erasmus Journal for Philosophy and Economics 3 (2):26-46.
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