The usefulness of truth: an enquiry concerning economic modelling

Erasmus Journal for Philosophy and Economics 3 (1):119 (2010)
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Abstract

This thesis attempts to justify a normative role for methodology by sketching a pragmatic way out of the dichotomy between two major strands in economic methodology: empiricism and postmodernism. I discuss several methodological approaches and assess their aptness for theory appraisal in economics. I begin with the most common views on methodology and argue why they are each ill-suited for giving methodological prescriptions to economics. Then, I consider positions that avoid the errors of empiricism and postmodernism. I specifically examine why the two major strands of methodological criticism fail to give helpful methodological advice to economists and sketch out a pragmatic approach that can do this

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