A Critique of Economic Theory and Modeling: A Meta-epistemological General-system Model of Islamic Economics
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Social Epistemology 25 (4):423 - 446 (2011)
The scientific methodology underlying model-building is critically investigated. The modeling views of Popper and Samuelson and their prototypes are critically examined in the light of the theme of the moral law of unity of knowledge and unity of the world-system configured by the meta-epistemology of organic unity of knowledge. Upon such critical examination of received methodology of model-building in economics, the extended perspective?namely of integrating the moral law derived from the divine roots as the meta-epistemology?is rigorously studied. The example of the Islamic prerogative in interpreting the holistic world-system through model-building in economics is highlighted. A religio-philosophical approach is adopted to exemplify some approaches in Islamic model-building. An especial focus is placed here on grassroots types of financing and activities. The critique of these models within the existing Islamic scholarship is carried out. The result is new dimensions of macroeconomic analysis that emanate in a logical way from the meta-epistemological approach, and oppose the mainstream ideas, both in received and Islamic economic thinking as of now
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
Milton Friedman (1953). Essays in Positive Economics. University of Chicago Press.
Karl R. Popper (1989/2002). Conjectures and Refutations: The Growth of Scientific Knowledge. Routledge.
Citations of this work BETA
No citations found.
Similar books and articles
Cyril Hédoin (2014). Models in Economics Are Not (Always) Nomological Machines A Pragmatic Approach to Economists' Modeling Practices. Philosophy of the Social Sciences 44 (4):424-459.
Collin Rice & Joshua Smart (2011). Interdisciplinary Modeling: A Case Study of Evolutionary Economics. Biology and Philosophy 26 (5):655-675.
Masudul Alam Choudhury (1995). The Epistemological Foundations of Islamic Economic, Social, and Scientific Order. Statistical, Economic, and Social Research and Training Centre for Islamic Countries.
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.
Thomas J. Dohmen (2002). Building and Using Economic Models: A Case Study Analysis of the IS-LL Model. Journal of Economic Methodology 9 (2):191-212.
Arthur M. Jacobs & Jonathan Grainger (1999). Modeling a Theory Without a Model Theory, or, Computational Modeling “After Feyerabend”. Behavioral and Brain Sciences 22 (1):46-47.
I. G. Tuluzov & S. I. Melnyk (2010). Physical Methodology for Economic Systems Modeling. Electronic Journal of Theoretical Physics (EJTP) 7 (24):57-78.
Barkley Rosser, Islam and Mammon: The Economic Predicaments of Islamism. Timur Kuran, 2004\, Princeton, NJ: Princeton University Press, 194 Pages, Index, $28.00. [REVIEW]
Mostapha Benhenda (2011). Liberal Democracy and Political Islam: The Search for Common Ground. Politics, Philosophy and Economics 10 (1):88-115.
B. H. Vollmar (2013). Economic Theory: A Field for the Application of Non-Dualist Thought? A Clarification of Potential Epistemic Benefits. Constructivist Foundations 8 (2):216-226.
Yahya Yasrebi (2007). A Critique of Causality in Islamic Philosophy. Topoi 26 (2):255-265.
William B. Griffith (1991). The Methodology of Economic Model Building: Methodology After Samuelson, Lawrence A. Boland. London: Routledge, 1989, V + 194 Pages. [REVIEW] Economics and Philosophy 7 (01):119-122.
Aki Lehtinen & Jaakko Kuorikoski (2007). Unrealistic Assumptions in Rational Choice Theory. Philosophy of the Social Sciences 37 (2):115-138.
Müge Ozman (2005). Interactions in Economic Models: Statistical Mechanics and Networks. [REVIEW] Mind and Society 4 (2):223-238.
Added to index2011-10-26
Total downloads15 ( #112,577 of 1,099,821 )
Recent downloads (6 months)4 ( #90,092 of 1,099,821 )
How can I increase my downloads?