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  1.  49
    On the Foundations of Hysteresis in Economic Systems.Rod Cross - 1993 - Economics and Philosophy 9 (1):53.
    Hysteresis means literally “that which comes later,” being derived from the Greek verb ύστερέω. Thus, hysteresis effects, generally defined, are those that persist after the initial causes giving rise to the effects are removed. During the course of the 1980s, it became increasingly fashionable to invoke hysteresis effects to explain economic phenomena. Two of the main areas of application were to unemployment and international trade. In the case of unemployment, distinctive features of labor markets, such as social norms that rule (...)
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  2.  14
    Metaphors and Time Reversibility and Irreversibility in Economic Systems.Rod Cross - 1995 - Journal of Economic Methodology 2 (1):123-134.
    This paper deals with the way metaphors carried over from physical or biological systems condition the analysis of economic systems. The metaphors drawn from Newtonian mechanics, or from conservative fields of force, by neoclassical economists are discussed. Alternative metaphors which involve non-homeostasis and time irreversible processes are then outlined. Particular attention is paid to thermodynamics, evolutionary biology, and non-conservative or hysteretic force fields as sources of such metaphors. It is argued that these metaphors provide illumination to aspects of economic systems (...)
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    Reflections on Soros: Mach, Quine, Arthur and Far-From-Equilibrium Dynamics.Rod Cross, Harold Hutchinson, Harbir Lamba & Doug Strachan - 2013 - Journal of Economic Methodology 20 (4):357-367.
    We argue that the Soros account of reflexivity does not provide a clear-cut distinction between a social science such as economics and the physical sciences. It is pointed out that the participants who attempt to learn from refutations of conjectures in the Soros world are likely to be haunted by the Duhem–Quine problem of conjointness of hypotheses and unfocused refutation. On a more constructive note, we argue that models of inductive learning, in which participants form conjectures on the basis of (...)
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