Economics and Reality
Psychology Press, 1997 - 364 pages
'No reality please. We're economists'. There is a wide spread belief that modern economics is irrelevant to the understanding of the real world. In a controversial and original study, Tony Lawson argues that the root of this irrelevance is in the failure of economists to find methods and tools which are appropriate for the social world it addresses.
Supporting his argument with a wide range of examples, Tony Lawson offers a provocative account of why economics has gone wrong and how it can be put back on track.
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ENDURING TENSIONS AS POINTS OF DEPARTURE
REALISM EXPLANATION AND SCIENCE
THE CASE FOR TRANSCENDENTAL REALISM
THE LEGACY OF POSITIVISM
THE NATURE OF THE ARGUMENT
TOWARDS A RICHER ONTOLOGY
BROAD OBJECTIVES AND POSSIBLE OBSTACLES
ECONOMIC SCIENCE WITHOUT
ON TRUTH IN ECONOMICS
ECONOMIC POLICY AND INTENDED CHANGE
ECONOMIC SCIENCE AND PREDICTION
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abstraction accepted achieved action activity actual agents analysis argument aspects assessment assumptions atomistic behaviour Bhaskar causal Chapter closure contemporary economics context contrast course critical realism deductivism deductivist demi-regs determine econometric econometricians economic methodology economic theory elaborated empirical enquiry event regularities example exist experience experimental experimental control explanation explanatory explicitly facilitate fact factors focus formulation generalised Hahn Hayek hermeneutic human agency ibid identified individuals interpreted intrinsic isolation knowledge latter laws least Lucas Lucas critique mainstream economics mainstream economists mechanisms Menger methodological individualism methodology methods models natural science objects observed ontology orthodox outcome particular perspective phenomenon philosophy position positivism positivist possible practices precisely prediction presupposes problems question rational rational expectations realism reality recognised relations relatively relevant rules scientific scientism scientists significant situation social realm social science social structure sort specific tendencies theoretical theorists things transcendental realist transformation understanding
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