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  1. Joseph Agassi (2009). The Advantage of Theft Over Honest Toil. Philosophy of the Social Sciences 39 (3):507-526.
    Gregory Landini offers a new and an illuminating reading of Ludwig Wittgenstein’s idea about his own innovation: it is the invention of a notation that removes the mystery from all theorems of logic and of mathematics as it renders their proofs part of their wordings. This makes all theorems in principle as boring as “all four-legged animals are animals.” This idea is Wittgenstein’s doctrine of showing. It is worthless; yet, as Landini shows, every time Wittgenstein offered an elaboration on it, (...)
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  2. Maree V. Boyle & Amanda Roan (2004). From Working Man's Paradise to Women in Business. Philosophy of Management 4 (3):25-33.
    In this paper we discuss how Australian feminism has contributed to a better understanding of women’s economic position within Australian society. Through this analysis we seek to shed some light on the current implementation of the ‘women in business’ policy in Australia. We trace the development of this position from the early beginnings of unionism and wage centralisation through to the social change movements of the 1960s and 1970s. We then examine how the neo-liberal turn of the 1990s manifested itself (...)
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  3. Andy Denis (2006). Hayek’s Challenge: An Intellectual Biography of F. A. Hayek. [REVIEW] Review of Political Economy 18 (4):579-583.
    Hayek’s Challenge is subtitled ‘an intellectual biography’ of Hayek, and the publisher describes it as ‘the first full intellectual biography’ of Hayek (front flap). But Caldwell himself appears to disagree: it was ‘never my goal’ to write ‘a comprehensive intellectual biography’ (177, note 10). Further, the book has a ‘secret title’: Caldwell’s Challenge (4). To assess what Caldwell has done, it is important to be very clear about what he was trying to do. Caldwell spells out in detail, in engaging (...)
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  4. Huw Dixon (1999). New Keynesian Economics, Nominal Rigidities and Involuntary Unemployment. Journal of Economic Methodology 6 (2):221-238.
    This paper explores the main motivations behind new Keynesian macroeconomics in the last 15 years. It focuses on the two central issues of nominal rigidity and involuntary unemployment. It argues that the Walrasian paradigm is inherently incapable of making sense of these issues except in an ad hoc manner. Both of these issues require the adoption of a framework with price and wage making agents to be properly modelled. Even if the Walrasian approach might fit the facts in a superficial (...)
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  5. Roger W. Garrison (1992). Keynesian Splenetics: From Social Philosophy to Macroeconomics. Critical Review 6 (4):471-492.
    Underlying the analytical framework of Keynes's General Theory is a comparison of capitalism and socialism in terms of risks and consequent rates of interest, rates of investment and capital accumulation, and levels of employment and output. Keynes's social philosophy and corresponding vision of macroeconomic reality biases his comparison in favor of socialism, or, more precisely, in favor of ?a comprehensive socialisation of investment.? Recognizing the significant influence of Keynes's early social philosophy on his subsequent macroeconomics? which is firmly established by (...)
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  6. Michael T. Ghiselin (2006). Evolving Economies, Natural and Political: Nature: An Economic History Geerat J. Vermeij Princeton : Princeton University Press , 2004 (448 Pp; $35.00 Hbk; ISBN 0691115273). [REVIEW] Biological Theory 1 (1):106-107.
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  7. Christophe Heintz & Nicholas Bardsley (2010). Special Issue on “Experimental Economics and the Social Embedding of Economic Behaviour and Cognition”. Mind and Society 9 (2):113-118.
    Can human social cognitive processes and social motives be grasped by the methods of experimental economics? Experimental studies of strategic cognition and social preferences contribute to our understanding of the social aspects of economic decisions making. Yet, papers in this issue argue that the social aspects of decision-making introduce several difficulties for interpreting the results of economic experiments. In particular, the laboratory is itself a social context, and in many respects a rather distinctive one, which raises questions of external validity.
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  8. Barbara Ingham (1999). Comparative Perspectives in Development Economics. Journal of Economic Methodology 6 (3):403-421.
    Comparative perspectives in development economics make extensive use of qualitative and quantitative induction together with deduction, and some-times a narrative, to bring ?facts? together in an interrelated whole. It is a method of inquiry not allied to any single ?world view? though some development economists believe that comparative perspectives (or analytical economic history) are most representative of the classical tradition in development economics. Pattern modeling which is strongly associated with the inductive approach can take account of complexity and diversity, as (...)
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  9. Scott Scheall (forthcoming). Hayek the Apriorist? Journal of the History of Economic Thought.
    The paper aims to establish that Terence Hutchison’s argument in The Politics and Philosophy of Economics (1981) to the effect that the young F.A. Hayek maintained a methodological position markedly similar to that of Ludwig von Mises fails to establish the relevant conclusion. The first problem with Hutchison’s argument is that it is not clear exactly what conclusion he meant to establish with regard to the methodological views of the two paragons of 20th century Austrian economics. Mises (in)famously maintained a (...)
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Microeconomics
  1. Frank Ackerman (2002). Still Dead After All These Years: Interpreting the Failure of General Equilibrium Theory. Journal of Economic Methodology 9 (2):119-139.
    More than 25 years after the discovery that the equilibrium point of a general equilibrium model is not necessarily either unique or stable, there is still a need for an intuitively comprehensible explanation of the reasons for this discovery. Recent accounts identify two causes of the finding of instability: the inherent difficulties of aggregation, and the individualistic model of consumer behaviour. The mathematical dead end reached by general equilibrium analysis is not due to obscure or esoteric aspects of the model, (...)
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  2. J. Alcalde, M. C. Marco-Gil & J. A. Silva, The Minimal Overlap Rule: Restrictions on Mergers for Creditors' Consensus.
    As it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called µ-additivity. We find that µ-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by Neill (1982).
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  3. Elizabeth Anderson (2000). Beyond Homo Economicus: New Developments in Theories of Social Norms. Philosophy and Public Affairs 29 (2):170–200.
  4. Dominick T. Armentano (1992). Anti‐Antitrust: Ideology or Economics? Reply to Scherer. Critical Review 6 (1):29-39.
    F.M. Scherer has not effectively rebutted my subjectivist criticism of the standard microeconomic welfare model; Scherer's historical reference to what Congress (allegedly) believed is irrelevant to the theoretical concerns raised by subjectivism. Nor does my ?principal? criticism of antitrust policy rests on ?philosophical foundations?; my principal criticism rests on conventional economic analysis and a detailed economic history of the classic antitrust cases. My conclusion that the electrical equipment conspiracy of the late 1950s had no significant effect on market prices is (...)
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  5. N. Emrah Aydinonat (2007). Models, Conjectures and Exploration: An Analysis of Schelling's Checkerboard Model of Residential Segregation. Journal of Economic Methodology 14 (4):429-454.
    This paper analyses and explicates the explanatory characteristics of Schelling's checkerboard model of segregation. It argues that the explanation of emergence of segregation which is based on the checkerboard model is a partial potential (theoretical) explanation. Yet it is also argued that despite its partiality, the checkerboard model is valuable because it improves our chances to provide better explanations of particular exemplifications of residential segregation. The paper establishes this argument by way of examining the several ways in which the checkerboard (...)
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  6. Roger E. Backhouse (2004). History and Equilibrium: A Partial Defense of Equilibrium Economics. Journal of Economic Methodology 11 (3):291-305.
    This paper responds to the argument, made by many heterodox economists, that equilibrium theory should be abandoned in favor of theories that pay more attention to history. It considers some of the main ways in which the concept of equilibrium has been understood in economics, and the reasons why there has been confusion in discussions of equilibrium. The conclusion is drawn that the focus should be less on equilibrium as a concept than on equilibrium analysis as a method, and limited (...)
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  7. Roger E. Backhouse (1993). Lakatosian Perspectives on General Equilibrium Analysis. Economics and Philosophy 9 (02):271-.
  8. José Luis Bermúdez (2010). Rational Decisions , Ken Binmore. Princeton University Press, 2009, X + 200 Pages. [REVIEW] Economics and Philosophy 26 (1):95-101.
  9. James M. Buchanan (2001). Game Theory, Mathematics, and Economics. Journal of Economic Methodology 8 (1):27-32.
  10. Robin P. Cubitt, Chris Starmer & Robert Sugden (2001). Discovered Preferences and the Experimental Evidence of Violations of Expected Utility Theory. Journal of Economic Methodology 8 (3):385-414.
    The discovered preference hypothesis appears to insulate expected utility theory (EU) from disconfirming experimental evidence. It asserts that individuals have coherent underlying preferences, which experiments may not reveal unless subjects have adequate opportunities and incentives to discover which actions best satisfy their preferences. We identify the confounding effects to be expected in experiments, were that hypothesis true, and consider how they might be controlled for. We argue for a design in which each subject faces just one distinct choice task for (...)
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  11. Michel de Vroey (2003). Perfect Informationà laWalras Versus Perfect Informationà laMarshall. Journal of Economic Methodology 10 (4):465-492.
    In this paper I ponder upon the meaning of the perfect information assumption, and argue that a distinction should be drawn between the Walrasian and Marshallian conceptions of perfect information. I show that the Marshallian conception is more demanding than the Walrasian, due to the absence of the auctioneer figure. Next, I examine a few modern imperfect information models (Friedman's expectations?augmented Phillips Curve model, Lucas' neutrality of money model, Shapiro and Stiglitz' efficiency wage model) in order to assess whether the (...)
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  12. Brian Epstein (2009). Ontological Individualism Reconsidered. Synthese 166 (1):187-213.
    The thesis of methodological individualism in social science is commonly divided into two different claims—explanatory individualism and ontological individualism. Ontological individualism is the thesis that facts about individuals exhaustively determine social facts. Initially taken to be a claim about the identity of groups with sets of individuals or their properties, ontological individualism has more recently been understood as a global supervenience claim. While explanatory individualism has remained controversial, ontological individualism thus understood is almost universally accepted. In this paper I argue (...)
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  13. Brian Epstein (2008). When Local Models Fail. Philosophy of the Social Sciences 38 (1):3-24.
    Models treating the simple properties of social groups have a common shortcoming. Typically, they focus on the local properties of group members and the features of the world with which group members interact. I consider economic models of bureaucratic corruption, to show that (a) simple properties of groups are often constituted by the properties of the wider population, and (b) even sophisticated models are commonly inadequate to account for many simple social properties. Adequate models and social policies must treat certain (...)
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  14. Andrew Halpin (2007). Disproving the Coase Theorem? Economics and Philosophy 23 (3):321-341.
    This essay explores the detailed argument of the Coase Theorem, as found in Ronald Coase’s “The Problem of Social Cost” and subsequently defended by Coase in The Firm, the Market, and the Law. Fascination with the Coase Theorem arises over its apparently unassailable counterintuitive conclusion that the imposition of legal liability has no effect on which of two competing uses of land prevails, and also over the general difficulty in tying down an unqualified statement of the theorem. Instead of entering (...)
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  15. David L. Hammes & Lawrence A. Boland (1984). Neoclassical Vs. Classical Economic Models. Philosophy of the Social Sciences 14 (1):107-113.
  16. D. Wade Hands (1994). Restabilizing Dynamics: Construction and Constraint in the History of Walrasian Stability Theory. Economics and Philosophy 10 (02):243-.
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  17. D. Wade Hands (1985). The Structuralist View of Economic Theories: A Review Essay: The Case of General Equilibrium in Particular. Economics and Philosophy 1 (2):303-.
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  18. Neil Hart (1996). Equilibrium and Time: Marshall's Dilemma. Journal of Economic Methodology 3 (2):285-306.
    The neglect and misinterpretation of Marshall's treatment of time led many of his followers and critics to overlook the significance of the qualifications and criticisms of equilibrium analysis in his Principles. This misinterpretation arises from a failure to fully understand the purpose and method of Marshall's analysis. Marshall's methodological struggles in Principles did not arise from an attempt to preserve the concept of competitive equilibrium in a world where increasing returns are pervasive. Rather, they emanated from an attempt at providing (...)
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  19. Geoffrey M. Hodgson (2006). Microeconomics: Behavior, Institutions, and Evolution, Samuel Bowles, Princeton University Press and Russell Sage Foundation, 2004, 584 Pages. [REVIEW] Economics and Philosophy 22 (1):166-171.
  20. Elias L. Khalil (2008). Equilibrium Without Rationality:Microeconomics: Behavior, Institutions and Evolution, Samuel Bowles . Princeton: Princeton University Press, 2003. (595 Pp; US $29.95 Pbk; ISBN 9780691126388. [REVIEW] Biological Theory 3 (1):90-92.
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  21. Maurice Lagueux, Omniscience and Rationality in Microeconomics.
    It would be very difficult to discuss the question concerning the hypothesis of omniscience in microeconomics without relating this hypothesis to the more fundamental hypothesis of rationality (usually referred to as rationality principle or postulate) which is at the base of the very idea of an economic theory and even social sciences. Indeed omniscience is a quality which was typically attributed to homo oeconomicus whose essential characteristic is to be perfectly "rational". This association between omniscience and rationality goes back to (...)
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  22. Christian List & Ben Polak (2010). Introduction to Judgment Aggregation. Journal of Economic Theory 145 (2):441-466.
    This introduces the symposium on judgment aggregation. The theory of judgment aggregation asks how several individuals' judgments on some logically connected propositions can be aggregated into consistent collective judgments. The aim of this introduction is to show how ideas from the familiar theory of preference aggregation can be extended to this more general case. We first translate a proof of Arrow's impossibility theorem into the new setting, so as to motivate some of the central concepts and conditions leading to analogous (...)
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  23. Michael Moehler & Geoffrey Brennan (2010). Neoclassical Economics. In Mark Bevir (ed.), Encyclopedia of Political Theory. SAGE Publications.
    The term neoclassical economics delineates a distinct and relatively homogenous school of thought in economic theory that became prominent in the late nineteenth century and that now dominates mainstream economics. The term was originally introduced by Thorstein Veblen to describe developments in the discipline (of which Veblen did not entirely approve) associated with the work of such figures as William Jevons, Carl Menger, and Leon Walras. The ambition of these figures, the first neoclassicists, was to formalize and mathematize the subject (...)
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  24. Philippe Mongin (2000). Does Optimization Imply Rationality? Synthese 124 (1-2):73 - 111.
    The relations between rationality and optimization have been widely discussed in the wake of Herbert Simon's work, with the common conclusion that the rationality concept does not imply the optimization principle. The paper is partly concerned with adding evidence for this view, but its main, more challenging objective is to question the converse implication from optimization to rationality, which is accepted even by bounded rationality theorists. We discuss three topics in succession: (1) rationally defensible cyclical choices, (2) the revealed preference (...)
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  25. Alan Nelson (1984). Some Issues Surrounding the Reduction of Macroeconomics to Microeconomics. Philosophy of Science 51 (4):573-594.
    This paper examines the relationship between modern theories of microeconomics and macroeconomics and, more generally, it evaluates the prospects of theoretically reducing macroeconomics to microeconomics. Many economists have shown strong interest in providing "microfoundations" for macroeconomics and much of their work is germane to the issue of theoretical reduction. Especially relevant is the work that has been done on what is called The Problem of Aggregation. On some accounts, The Problem of Aggregation just is the problem of reducing macroeconomics to (...)
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  26. Julianne Nelson (1992). The Market Ethic: Moral Dilemmas and Microeconomics. [REVIEW] Journal of Business Ethics 11 (4):317 - 320.
    Brief cases written as multiple choice questions can provide the basis for a classroom game based on business ethics. This teaching note describes the organization of such a game and provides five sample cases.
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  27. Alejandro Rosas (2010). Reciprocity, Altruism and the Civil Society: In Praise of Heterogeneity , Luigino Bruni. Routledge, 2008, XIII + 158 Pages. [REVIEW] Economics and Philosophy 26 (1):108-114.
    Economic theory has tended to reduce all social bonds and relations to forms of contract, whereas social theory has seen contracts as opposed to, and destructive of, genuine social bonds. Bruni sees these contrapositions as ideological (‘left’ against ‘right’, p. xi). His main goal is to overcome them; to show that three forms of reciprocity, covering the ideological spectrum from left to right, are complementary and simultaneously required in a healthy society. These three forms are, in his words: ‘(1) the (...)
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  28. Alex Rosenberg (1995). The Metaphysics of Microeconomics. The Monist 78 (3):352-367.
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  29. Don Ross (1995). Real Patterns and the Ontological Foundations of Microeconomics. Economics and Philosophy 11 (01):113-.
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Macroeconomics
  1. John D. Abell (1990). A Note on the Teaching of Ethics in the MBA Macroeconomics Course. Journal of Business Ethics 9 (1):21 - 29.
    While there is general agreement on the need to teach ethics in the MBA classroom, there are great difficulties in completely integrating such material within the confines of an actual MBA program. This paper attempts to address these difficulties by focusing on the teaching of such issues in one particular class — MBA macroeconomics.Ethical dilemmas often arise due to failures of the market place or due to inappropriate assumptions regarding the market model. Thus, specific suggestions are offered in regard to (...)
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  2. John Aldrich & Anna Staszewska (2007). The Experiment in Macroeconometrics. Journal of Economic Methodology 14 (2):143-166.
    This paper examines the experiment in macroeconometrics, the different forms it has taken and the rules that have been proposed for its proper conduct. Here an ?experiment? means putting a question to a model and getting an answer. Different types of experiment are distinguished and the justification that can be provided for a particular choice of experiment is discussed. Three types of macroeconometric modelling are considered: the Cowles (system of equations) approach, the vector autoregressive model approach and the computational experiment. (...)
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  3. Heather M. Anderson (1999). Explanations of an Empirical Puzzle: What Can Be Learnt From a Test of the Rational Expectations Hypothesis? Journal of Economic Methodology 6 (1):31-59.
    This paper illustrates the interplay between theory development and data analysis by considering the ability of the rational expectations hypothesis to explain the empirical cointegration structure found in the term structure. It finds that although a standard no-arbitrage theory that incorporates rational expectations can explain some of the properties of Treasury Bill yields, this theoretical explanation is incomplete. A broader-based explanation that accounts for government debt and time-varying risk premia can improve predictions of yield movements, relative to those predictions based (...)
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  4. Roger Backhouse & Andrea Salanti (1999). The Methodology of Macroeconomics. Journal of Economic Methodology 6 (2):159-169.
    This paper outlines some of the main methodological issues to arise in macroeconomics, making the case that the methodological issues arising in macroeconomics are just as important as those arising in microeconomics and that they merit more attention. Focusing on the symposium to which it forms the Introduction, the paper discusses three such issues: can macroeconomic theories be tested? Do macroeconomic theories change in response to evidence? Is contemporary macroeconomics in good methodological shape?
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  5. Amitrajeet A. Batabyal (2001). J. B. Braden and S. Proost, Editors, the Economic Theory of Environmental Policy in a Federal System; A. Cornwell and J. Creedy, Environmental Taxes and Economic Welfare; G. Atkinson, R. Dubourg, K. Hamilton, M. Munasinghe, D. Pearce, and C. Young, Measuring Sustainable Development: Macroeconomics and the Environment; R. Nau, E. Gronn, M. Machina, and O. Bergland, Editors, Economic and Environmental Risk and Uncertainty: New Models and Methods. [REVIEW] Journal of Agricultural and Environmental Ethics 14 (1):97-103.
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  6. George C. Bitros (2010). Two Puzzles Regarding the Replacement Ratio in the Context of Renewal Theory. Journal of Economic Methodology 17 (4):375-395.
    The models Feldstein and Rothschild, on the hand, and Jorgenson on the other adopted in 1974 to highlight the replacement ratio are identical. Yet, the authors reached opposite conclusions and the latter's view prevailed, which is weaker in terms of theoretical and empirical foundations. This paper argues that both puzzles may be resolved by reference to the differences in the methodological preconceptions of the authors involved, the operational advantages of the theorem of proportionality, the accumulated data that facilitate research, the (...)
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  7. Justin Bledin & Sharon Shewmake (2004). Research Programs, Model-Building and Actor-Network-Theory: Reassessing the Case of the Leontief Paradox. Journal of Economic Methodology 11 (4):455-476.
    Methodology of scientific research programs (MSRP), model-building and actor-network-theory (ANT) are woven together to provide a layered study of the Leontief paradox. Neil De Marchi's Lakatosian account examined the paradox within an Ohlin-Samuelson research program. A model-building approach rather highlights the ability of Leontief's input-output model to mediate between international trade theory and the world by facilitating an empirical application of the Heckscher-Ohlin Theorem. The epistemological implications of this model-building approach provide an alternative explanation of why Samuelson and other prominent (...)
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  8. Michal Brzezinski & Michal Dzielinski (2009). Is Endogenous Growth Theory Degenerating? Another Look at Lakatosian Appraisal of Growth Theories. Journal of Economic Methodology 16 (3):243-263.
    In a recent paper, Cavusoglu and Tebaldi (2006) provided an evaluation of neoclassical and endogenous growth theories according to Lakatos's methodology of scientific research programmes. This paper offers three criticisms of their contribution as well as a rival Lakatosian appraisal of growth theories. First, we hold that Cavusoglu and Tebaldi do not provide a proper structure of theory comparison in their contribution. Second, we argue that they use an inadequate version of Lakatos's appraisal criterion. Third, against the claim (...)
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  9. Bruce J. Caldwell (1986). Macroeconomic Thought: A Methodological Approach, Sheila Dow, Oxford, Basil Blackwell, 1985, Xi, 268 Pages.What is Political Economy? David Whynes, Editor, Oxford, Basil Blackwell, 1984, Ix, 243 Pages.Economics in Disarray, Peter Wiles and Guy Routh, Editors, Oxford, Basil Blackwell, 1984, Vii, 355 Pages. [REVIEW] Economics and Philosophy 2 (01):141-.
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  10. Nevin Cavusoglu & Edinaldo Tebaldi (2006). Evaluating Growth Theories and Their Empirical Support: An Assessment of the Convergence Hypothesis. Journal of Economic Methodology 13 (1):49-75.
    Understanding the factors determining economic growth has been a major concern for economists and governing bodies for many years. The Solow growth model and the endogenous growth models are the main theories tested and used in the growth literature. This paper discusses the main contributions to economic methodology and uses Lakatos's scientific research program framework to evaluate the main theoretical contributions to growth theory. Based on Lakatos's ideas, Solovian models are both empirically and theoretically progressive. Endogenous growth models, on the (...)
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  11. Victoria Chick (2003). Theory, Method and Mode of Thought in Keynes'sGeneral Theory. Journal of Economic Methodology 10 (3):307-327.
    In my 1983 book, Macroeconomics after Keynes, I claimed that much that was original in Keynes was to be found not at the level of theory but in his method. Shortly afterwards, Sheila Dow's book Macroeconomic Thought (1985) introduced those of us who are not specialist methodologists to what she called the ?mode of thought?. In that book, and subsequently, it has become clear that differences in approach between those who take their inspiration from Keynes and Kalecki and those I (...)
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  12. Rosa Cobo Bedía (2011). Hacia Una Nueva Política Sexual: Las Mujeres Ante la Reacción Patriarcal. Catarata.
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