David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jonathan Jenkins Ichikawa
Jack Alan Reynolds
Learn more about PhilPapers
Much empirical analysis and econometric work recognizes that there are nonlinearities, regime shifts or structural breaks, asymmetric adjustment costs, irreversibilities and lagged dependencies. Hence, empirical work has already transcended neoclassical economics. Some progress has also been made in modeling endogenously generated cyclical growth and fluctuations. All this is inconsistent with neoclassical general equilibrium. Hence there is growing evidence of Kuhnian anomalies. It therefore follows that there is a Kuhnian crisis in economics and further research in nonlinear dynamics and complexity can only increase the Kuhnian anomalies. This crisis can only deepen. However, there is an ideological commitment to general equilibrium that justifies “free enterprise” with only minimal state intervention that may still sustain neoclassical economics despite the growing evidence of Kuhnian anomalies. Thus, orthodox textbook theory continues to ignore this fact and static neoclassical theory remains a dogma with no apparent reformulation to replace it.
|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
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Lawrence A. Boland (1998). Situational Analysis Beyond Neoclassical Economists. Philosophy of the Social Sciences 28 (4):515-521.
Dennis C. Mueller (2004). Models of Man: Neoclassical, Behavioural, and Evolutionary. Politics, Philosophy and Economics 3 (1):59-76.
George C. Davis (2005). Clarifying the 'Puzzle' Between the Textbook and LSE Approaches to Econometrics: A Comment on Cook's Kuhnian Perspective on Econometric Modelling. Journal of Economic Methodology 12 (1):93-115.
Milan Zafirovski (2000). The Rational Choice Generalization of Neoclassical Economics Reconsidered: Any Theoretical Legitimation for Economic Imperialism? Sociological Theory 18 (3):448-471.
B. Pourciau (2000). Intuitionism as a (Failed) Kuhnian Revolution in Mathematics. Studies in History and Philosophy of Science Part A 31 (2):297-329.
R. E. Hendrick & Anthony Murphy (1981). Atomism and the Illusion of Crisis: The Danger of Applying Kuhnian Categories to Current Particle Physics. Philosophy of Science 48 (3):454-468.
Added to index2009-01-28
Total downloads23 ( #204,569 of 1,932,541 )
Recent downloads (6 months)2 ( #333,140 of 1,932,541 )
How can I increase my downloads?