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Plurality in Orthodox and Heterodox Economics

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  • Sheila C. Dow

    (University of Stirling)

Abstract

Several observers have noted signs of a growing plurality in mainstream economics. At the same time there has been a growing emphasis in heterodox economics on commonality. The purpose of this paper is to explore the nature of plurality in economics in order to make sense of these characterisations, and to consider the issues raised by this plurality. The critical factor is to distinguish between plurality at the level of theory and evidence, at the level of methodological approach (plurality of methods), and at the meta-methodological level (a plurality of methodologies). First it is argued that, while there is plurality at the level of theory and even of type of evidence in orthodox economics, there continues to be monism in terms of methodological approach, and in attitude to methodological alternatives. In heterodox economics, the commonality of methodological approach does not go far before emerging pluralistically into a variety of approaches. Indeed there is, at the meta-methodological level, a range of arguments in heterodox economics for a plurality of methodologies, that is, a recognition that it is legitimate (if not inevitable) that there is more than one approach to economics.

Suggested Citation

  • Sheila C. Dow, 2008. "Plurality in Orthodox and Heterodox Economics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 1(2), pages 73-96, March.
  • Handle: RePEc:bus:jphile:v:1:y:2008:i:2:p:73-96
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    Citations

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    Cited by:

    1. Cedrini, Mario & Fontana, Magda, 2015. "Mainstreaming. Reflections on the Origins and Fate of Mainstream Pluralism," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201510, University of Turin.
    2. Florentin Gloetzl & Ernest Aigner, 2015. "Pluralism in the Market of Science? A citation network analysis of economic research at universities in Vienna," Ecological Economics Papers ieep5, Institute of Ecological Economics.
    3. Dirk C. Moosmayer & Sandra Waddock & Long Wang & Matthias P. Hühn & Claus Dierksmeier & Christopher Gohl, 2019. "Leaving the Road to Abilene: A Pragmatic Approach to Addressing the Normative Paradox of Responsible Management Education," Journal of Business Ethics, Springer, vol. 157(4), pages 913-932, July.
    4. Andrew Mearman & Tim Wakeley & Gamila Shoib & Don J. Webber, 2011. "Does Pluralism in Economics Education Make Better Educated, Happier Students? A Qualitative Analysis," International Review of Economic Education, Economics Network, University of Bristol, vol. 10(2), pages 50-62.
    5. Gruszka, Katarzyna & Scharbert, Annika Regine & Soder, Michael, 2017. "Leaving the mainstream behind? Uncovering subjective understandings of economics instructors' roles," Ecological Economics, Elsevier, vol. 131(C), pages 485-498.
    6. Teixeira, Aurora A. C. & Castro e Silva, Manuela, 2015. "Relational environment and intellectual roots of 'ecological economics': An orthodox or heterodox field of research?," Economics Discussion Papers 2015-52, Kiel Institute for the World Economy (IfW Kiel).
    7. Remig, Moritz C., 2017. "Structured pluralism in ecological economics — A reply to Peter Söderbaum's commentary," Ecological Economics, Elsevier, vol. 131(C), pages 533-537.
    8. Cavalieri, Duccio, 2015. "Structural interdependence in monetary economics: theoretical assessment and policy implications," MPRA Paper 65526, University Library of Munich, Germany.
    9. Beckenbach, Frank, 2019. "Monism in modern science: The case of (micro-)economics," Working Paper Serie des Instituts für Ökonomie Ök-49, Hochschule für Gesellschaftsgestaltung (HfGG), Institut für Ökonomie.
    10. Iazdi, Oz, 2023. "Vieses orto-heterodoxos e os algoritmos economistas do ChatGPT [Ortho-Heterodox biases and the economist algorithms of ChatGPT]," MPRA Paper 117655, University Library of Munich, Germany.
    11. Sheila C. Dow, 2014. "Consistency in pluralism and microfoundations," Working Papers PKWP1408, Post Keynesian Economics Society (PKES).
    12. Nuno Ornelas Martins, 2013. "Classical Surplus Theory and Heterodox Economics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1205-1231, November.
    13. Adem LEVENT, 2016. "Power, Market and Techno-Structure in John Kenneth Galbraith’s Thought," Journal of Social and Administrative Sciences, KSP Journals, vol. 3(2), pages 214-218, June.
    14. Imko Meyenburg, 2022. "A possibilist justification of the ontology of counterfactuals and forecasted states of economies in economic modelling," Working Papers hal-03751205, HAL.
    15. Katarzyna Gruszka & Annika Scharbert & Michael Soder, 2016. "Changing the world one student at a time? Uncovering subjective understandings of economics instructors' roles," Ecological Economics Papers ieep7, Institute of Ecological Economics.
    16. Michela Ciccotosto & Oleksandra Sokolenko & J.Christopher Proctor, 2024. "Teaching the polycrisis: Assessing the effect of pluralist education in Italian economics programs," Review of Evolutionary Political Economy, Springer, vol. 5(2), pages 219-269, September.
    17. Turan Yay, 2021. "Method and scope in Joseph A. Schumpeter's economics: a pluralist perspective," Post-Print hal-03374881, HAL.
    18. Tiago Cardão-Pito, 2021. "Academic discipline of economics as hedonist philosophy," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 14(1-2), pages 199-207, November.

    More about this item

    Keywords

    pluralism; plurality; mainstream economics; heterodox economics;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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