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Scholasticism versus Pietism: The Battle for the Soul of Economics

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  • Robert H. Nelson

Abstract

Two very different approaches to understanding the world are the “scholastic†and “pietistic†approaches. The two approaches differ both in structure and in the topics addressed. The scholastic approach involves a priestly hierarchy that authenticates knowledge, an emphasis on a specialized language and application of expert skills, and a denial of any large role for laymen in the discovery process. The pietistic approach encourages a direct connection between truth and the ordinary person. It exhibits spontaneous competition in ideas from any and all sources, the common use of ordinary language to develop arguments, and a large role for non-specialists in the discovery and production of knowledge. Historically, scholastic approaches, while achieving great heights at times, have also tended towards an excessive attention to minor detail, sterile abstractions, and generally the confusion of form with substance – hence, the negative connotations of “scholastic.†Thus we find that the structural differences and topical differences between scholasticism and pietism must be understood together. Drawing on the writings of Milton Friedman, Edmund Malinvaud, and other leading economists concerned about the current state of the profession, this article argues that contemporary economics has become a classic example of a scholastic discipline in decline. Economics should seek to revive itself by turning in a pietistic direction, as earlier Pietists sought to revive established Protestant churches that had lapsed from their commitments to the pursuit of divine truth.

Suggested Citation

  • Robert H. Nelson, 2004. "Scholasticism versus Pietism: The Battle for the Soul of Economics," Econ Journal Watch, Econ Journal Watch, vol. 1(3), pages 473-497, December.
  • Handle: RePEc:ejw:journl:v:1:y:2004:i:3:p:473-497
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    References listed on IDEAS

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    1. Malinvaud, E, 1991. "The Next Fifty Years," Economic Journal, Royal Economic Society, vol. 101(404), pages 64-68, January.
    2. Oswald, Andrew J, 1991. "Progress and Microeconomic Data," Economic Journal, Royal Economic Society, vol. 101(404), pages 75-80, January.
    3. Wiseman, Jack, 1991. "The Black Box," Economic Journal, Royal Economic Society, vol. 101(404), pages 149-155, January.
    4. Colander,David C. & Coats,Alfred William (ed.), 1989. "The Spread of Economic Ideas," Cambridge Books, Cambridge University Press, number 9780521362337.
    5. Hahn, Frank, 1991. "The Next Hundred Years," Economic Journal, Royal Economic Society, vol. 101(404), pages 47-50, January.
    6. Morishima, Michio, 1991. "General Equilibrium Theory in the Twenty-First Century," Economic Journal, Royal Economic Society, vol. 101(404), pages 69-74, January.
    7. William L. Davis, 2004. "Preference Falsification in the Economics Profession," Econ Journal Watch, Econ Journal Watch, vol. 1(2), pages 359-368, August.
    8. Friedman, Milton, 1991. "Old Wine in New Bottles," Economic Journal, Royal Economic Society, vol. 101(404), pages 33-40, January.
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    Cited by:

    1. Daniel B. Klein, 2005. "The Ph.D. Circle in Academic Economics," Econ Journal Watch, Econ Journal Watch, vol. 2(1), pages 133-148, April.
    2. Emmanuel S. de Dios, 2011. "Institutional constraints on Philippine growth," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 48(1), pages 71-124, June.

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    More about this item

    Keywords

    economic method; scholastic; pietistic; sterility; centennial issue of Economic Journal;
    All these keywords.

    JEL classification:

    • A0 - General Economics and Teaching - - General
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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