Orthodox and heterodox economics in recent economic methodology

Hands, D. Wade

doi:10.23941/ejpe.v8i1.184

Cited by 18 publications

(5 citation statements)

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“…They also show roughly similar tendencies throughout the whole period: Small m remains relatively stable during the three decades, whereas Big M decreases from more than 40 per cent in the 1990s to around 10 per cent of all publications by 2020. This decrease in the Big M cluster conrms the well-acknowledged fact that traditional Big M methodology has been going out of fashion in the philosophy of economics, apparently both within and beyond specialized EM/PE research (see, e.g., Hands 2015).…”

Section: Philosophy Of Economics In the Main Specialized Journalsmentioning

confidence: 68%

“…6 For a recent rst order perspective on some of the main trends in EM/PE, see Mireles Flores (2018); and for a broader classic overview, see Hands (2001).…”

Section: Current Trends and Narratives In Em/pementioning

confidence: 99%

“…Hence, the rst problematic manifestation of the mainstream bias that we wish to point out is the exclusion of heterodox accounts from the philosophical research agenda. Hands (2015) characterizes the EM/PE focus as "pluralistic mainstream"-no longer obsessed with analysing neoclassical orthodox or heterodox alternatives and having moved on to engaging with diverse methodological developments in mainstream economics. Davis and Hands (2021) echo this judgement, emphasizing the diversity of contemporary EM/PE.…”

Section: Mainstream Biasmentioning

confidence: 99%

“…Referring to Hands's (2015) characterization of the focus of contemporary EM/PE as "pluralistic," Claveau et al (2021) point out that even Specialized Philosophy of Economics clusters do not re ect pluralistic developments. Behavioural economics clearly dominates over other potential topics such as evolutionary economics, computational and agent-based modelling, and various new empirical techniques, which Hands (2015) mentions as part of the mainstream.…”

Section: Mainstream Biasmentioning

confidence: 99%

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Methodology and Philosophy of Economics

Mireles-Flores

Nagatsu

2022

The History of Economic Thought

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We are very grateful to Magdalena Ma ecka, D. Wade Hands, and Sheila C. Dow for their valuable comments on an earlier draft of this article. We also thank the feedback from an anonymous referee and the HET editorial board member Norikazu Takami. Some of the ideas of this article were presented at the 15th Biennial Conference of the International Network for Economic Method (INEM). This research is funded by the Academy of Finland (Mireles Flores, project No. 330524; Nagatsu, project No. 294545). We are equally responsible for the contents of this article.

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Section: Philosophy Of Economics In the Main Specialized Journalsmentioning

confidence: 68%

“…6 For a recent rst order perspective on some of the main trends in EM/PE, see Mireles Flores (2018); and for a broader classic overview, see Hands (2001).…”

Section: Current Trends and Narratives In Em/pementioning

confidence: 99%

Section: Mainstream Biasmentioning

confidence: 99%

Section: Mainstream Biasmentioning

confidence: 99%

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Methodology and Philosophy of Economics

Mireles-Flores

Nagatsu

2022

The History of Economic Thought

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“…Д. Уейд Хендс, професор Університету Пьюджет-Саунд (м. Вашингтон), зазначав: «Останні двадцять… років стали свідками значного зростання зміни традиційних відносин між "ортодоксальними" та "гетеродоксальними" школами думки в економіці. Протяг ом більшої частини другої половини 20-го століття економічний мейнстрім, ортодоксальність, складався з неокласичної мікроекономіки в поєднанні з певною версією макроекономіки (це була кейнсіанська теорія, а також нова класична макроекономіка та реальна пізніше теорія бізнесциклу» [16]. На зміну панівній неокласиці, на його думку, приходить новий, більш плюралістичний мейнстрим, відкритий до психології, менш індивідуалістичний, що бере до уваги різні типи залежностей і набагато ширший клас аналітичних інструментів.…”

Section: валерій новіковunclassified

Ethical Economy as a Methodological Challenge of Postmodernism

NOVIKOV

2024

Demogr. soc. ekon.

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The article is devoted to the problem of the compatibility of the economic and ethical foundations of entrepreneurial activity. In the conditions of postmodernism, their connection is blurred by a complex interweaving of economic and ethical motives. The conclusions of researchers who study this issue often contradict actual practice. Moreover, in postmodern philosophy, ethics in the general theoretical sense was not only underestimated, but also not regarded as an acceptable phenomenon. That is why science has not developed a complex of intellectual actions that would have a universal character to neutralize the negative consequences of postmodernism. Considering the growing role of ethical issues in the modern society and their lack of development in the economic environment, it is reasonable to analyze the series of works of the German economist, philosopher and sociologist Peter Koslowski. In his studies, the issues of bridging the gap between ethics and economic rationality associated with postmodernism as a special historical era, which is characterized by a number of specific features that are critical to the emergence and deepening of socio-economic risks, are discussed in a balanced and objective manner. Due to this it is relevant to define the problems of the theory of ethical economy not in isolation, but in interaction and mutual influence with modern transformation processes of postmodernism. The productive attempt to consider these issues was made by Peter Koslowski in his fundamental works: «Postmodern Culture», «Principles of Ethical Economy», «Ethics of Banking». The purpose of this article is to consider, based on the conceptualization of Peter Koslowski’s methodological position, the theoretical concept of ethical economy as a potentially important factor in overcoming the ethical neutralization of the economic system in the postmodern period. The novelty is the definition of ethical economy as a universal theory of rational activity, which takes into account the interaction of various socio-economic factors — ethics, economy and finance, law, sociology, history — which allows it to be interpreted as a multi-subject scientific discipline, the semantic contexts of which determine behavioral choice of economic entities, consumer and humanitarian expectations of the population. The methods of hermeneutics, analysis and synthesis, comparison, abstraction and generalization were used in the research. The main conclusions of the article are characterized by theoretical innovations that can provoke methodological discussions and ultimately contribute to an in-depth study of the multifaceted issues of ethical economy. The detailed and logically consistent concept of ethical economy as a system of economic views on a fair economic order during the period of change of world history eras, change from modernity to postmodernity is presented. The normative side of ethical economy includes legal obligations, which can be properly implemented in laws. In the triad of law, ethics and economics, the principle of efficiency and social justice applies to both law itself and ethics and should be used in the development of adequate legislation.

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Back to the Future: Lösch, Isard, and the Role of Money and Credit in the Space-Economy

Bieri

2017

Regional Research Frontiers - Vol. 1

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The recent financial crisis has been a powerful reminder that the intersectoral flow of funds is also-always and everywhere-a local phenomenon with real effects. Yet, the contemporary canon of regional economic theory has enshrined the classical dichotomy, treating the spheres of money and production as analytically distinct. Consequently, the current literature has little to say about monetary phenomena and their spatial consequences. The widespread disengagement of regional scientists with respect to issues of money, credit and banking represents a radical break with the discipline's intellectual origins over half a century ago. This chapter re-examines the monetary content of some of the foundational works in regional science. In particular, I argue that August Lösch and Walter Isard, the former a student of Joseph Schumpeter's and the latter a student of Alvin Hansen's, both represent important branches in the long lineage of 20 th century continental and U.S. monetary thought, respectively. In doing so, this chapter also outlines key elements of a research agenda that reengages with regional aspects of money and credit, casting them as central pillars of a Lösch-Isard synthesis.

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Orthodox and heterodox economics in recent economic methodology

Cited by 18 publications

References 28 publications

Methodology and Philosophy of Economics

Methodology and Philosophy of Economics

Ethical Economy as a Methodological Challenge of Postmodernism

Back to the Future: Lösch, Isard, and the Role of Money and Credit in the Space-Economy

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