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Lakatosian Consolations for Economics

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  • Rosenberg, Alexander

Abstract

The F-twist is giving way to the methodology of scientific research programs. Milton Friedman's “Methodology for Economics” is being supplanted as the orthodox rationale for neoclassical economics by Imre Lakatos' account of scientific respectability. Friedman's instrumentalist thesis that theories are to be judged by the confirmation of their consequences and not the realism of their assumptions has long been widely endorsed by economists, under Paul Samuelson's catchy rubric “the F-twist.” It retains its popularity among economists who want no truck with methodology, but among the increasing number of able economists who are writing on methodology the F-twist has been surrendered, not so much because these writers have decided it is false, as because something better has finally come along.

Suggested Citation

  • Rosenberg, Alexander, 1986. "Lakatosian Consolations for Economics," Economics and Philosophy, Cambridge University Press, vol. 2(1), pages 127-139, April.
    • Handle: RePEc:cup:ecnphi:v:2:y:1986:i:01:p:127-139_00
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    Cited by:

    1. Stavros A. Drakopoulos & Anastassios D. Karayiannis, 2005. "A Review of Kuhnian and Lakatosian «Explanations» in Economics," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 13(2), pages 51-73.
    2. Pierre Salmon, 1987. "Models, theories and arguments in economics [Modèles, théories et arguments en économique]," Working Papers hal-01534445, HAL.
    3. Deniz Kellecioglu, 2017. "How to transform economics? A philosophical appraisal," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 11(1), pages 1-26, November.
    4. Andrea Salanti, 1994. "On the Lakatosian apple of discord in the history and methodology of economics," Finnish Economic Papers, Finnish Economic Association, vol. 7(1), pages 30-41, Spring.

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