Research in the subject area of economics (as a social science) has defined its ontologie of scientific investigation through economic methodology; a philosophical approach entailing the proviso of empirical evidence and backed by an understanding of human interaction in their natural habitat. The contention of economic methodology being refuted for its non-scientific means of investigation and particularly with the application of Ceteris Paribus (CP) law, has been critically addressed in this article, with Sierra Leone as a case example. Sierra Leone (...) is a complex economy and issues surrounding the assumption of CP has been brought to the fore, with a view of the political economy structure being made transparent so as to make it possible for economists to address critical issues surrounding corruption (exogenous factors), not accounted for in econometric modelling. This is not necessarily that which is considered as the most obvious, with the use of CP concept, for example, the influence of naturally occurring incidents like adverse weather conditions, flooding and earthquakes. (shrink)

The way in which knowledge progresses, and especially our scientific knowledge, is by unjustified anticipations, by guesses, by tentative solutions to our problems, by conjectures. These conjectures are controlled by criticism: that is, by attempted refutations, which include severely critical tests. They may survive these tests; but they can never be positively justified: they can neither be established as certainly true nor even as 'probable'. Criticism of our conjectures is of decisive importance: by bringing out our mistakes it makes us (...) understand the difficulties of the problems which we try to solve. This is how we become better acquainted with our problem, and able to propose more mature solutions: the very refutation of a theory - that is, of a tentative solution to our problem - is always a step forward that takes us nearer the truth. And this is how we can learn from our mistakes. As we learn from our mistakes our knowledge grows, even though we may never know - that is, know for certain. Since our knowledge can grow, there can be no reason here for despair of reason. And since we can never know for certain, the can be no authority here for any claim to authority, for conceit over our knowledge, or for smugness. The essays and lectures of which this book is composed apply this thesis to many topics, ranging from problems of the philosophy and history of the physical and social sciences to historical and political problems. (shrink)

The paper begins by pointing out the diversity of philosophical positions within IS, and the range of reactions to this diversity. It then discusses problems within the underlying philosophies of science - particularly positivism and interpretivism. With this as a background, the paper proposes critical realism as an underpinning philosophy that has the potential to overcome both sets of difficulties. The theoretical arguments are practically illustrated by critiques of (positivist) statistical analysis and (interpretivist) soft systems methodology.

his article has adopted an open discourse in addressing pertinent concerns about the scientific existence of economics as a discipline. In doing so, some (critical) Filosofia arguments have been provided in ensuring that a well balanced approach is taken on the subject. Obviously, the approach of Popperian falsification used by economic science to address scientific justification through its varied scientific platform of technology applications like EVIEWS, STATA, MatLab and many more, have been applauded. Albeit such advances, the views of modern (...) and postmodern critics have also come out saliently in a bid to ensuring open discourses are laid on the way forward in adding scientific credence to the subject matter. In concluding, it was acknowledged that more is needed in ensuring that economic science as practiced by economists takes an open approach to critical discourse, reflecting reality about its pursed scientific ventures, given the persistence of economic volatility manifested across the global community. (shrink)

The article addresses critical discourses pertaining to triangulation methodology as a step forward in dealing with policy formulation, particularly at the Bank of Sierra Leone. Alternative prescriptive measure like critical discourse analysis have been proposed as a means to the cutting head development in bridging the gap between orthodox and heterodox views of economic sciences investigations.