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The (formal) return to openness: A quantitative contribution to the history of economic thought

Author

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  • J. Daniel Aromí

    (IIEP-BAIRES, UBA)

Abstract

We develop a comprehensive quantitative account of changing practices in economics in the last 122 years. The analysis uses word detection algorithms to partially characterize prevailing practices. We document a shift toward isolation from other disciplines during most of the twentieth century. In sharp contrast, the most recent decades show a strong move towards a more connected discipline. Periods of more connectedness are associated with openness to a broader set of features of economic agents and the economic environment. In parallel, the 1960s and 1970s show a notable acceleration in the move towards a more mathematical approach. This development did not reverse. As a result, the current state of the discipline is characterized by an embrace of mathematical tools together with openness to a wider set of aspects and findings developed in other disciplines. Most of the reported variables show surprisingly high correlations across disciplines and across journals. An online appendix is available.

Suggested Citation

  • J. Daniel Aromí, 2013. "The (formal) return to openness: A quantitative contribution to the history of economic thought," Journal of Applied Economics, Universidad del CEMA, vol. 16, pages 203-222, November.
    • Handle: RePEc:cem:jaecon:v:16:y:2013:n:2:p:203-222
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    File URL: https://ucema.edu.ar/publicaciones/download/volume16/aromi.pdf
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    File URL: https://ucema.edu.ar/publicaciones/download/volume16/aromi_appendix.pdf
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    Keywords

    history of economic thought; methodology;

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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