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Some Claims Made for Critical Realism in Economics: Two Case Studies

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The article critically examines claims made by two prominent critical realists on behalf of their philosophy - on the Marx’s law of the tendency of the rate of profit to fall and on the workplace organization theory of the relative decline of the British economy. These two case studies raise important questions concerning critical realism in economics. The character of critical realism as a movement is also analyzed.

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  • G. Hodgson, 2006. "Some Claims Made for Critical Realism in Economics: Two Case Studies," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 7.
    • Handle: RePEc:nos:voprec:y:2006:id:1758
    DOI: 10.32609/0042-8736-2006-7-37-52
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    1. Blaug,Mark, 1997. "Economic Theory in Retrospect," Cambridge Books, Cambridge University Press, number 9780521577014, September.
    2. Bernard Walters & David Young, 1999. "Is Critical Realism the Appropriate Basis for Post Keynesianism?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 22(1), pages 105-123, September.
    3. Bowles, Samuel, 1981. "Technical Change and the Profit Rate: A Simple Proof of the Okishio Theorem: Note [Technical Change and the Rate of Profit]," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 5(2), pages 183-186, June.
    4. Downward, Paul, 2000. "A Realist Appraisal of Post-Keynesian Pricing Theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(2), pages 211-224, March.
    5. Marina Colonna & Harald Hagemann, 1995. "The Economics of F.A. Hayek," Books, Edward Elgar Publishing, volume 0, number 101.
    6. Kilpatrick, Andrew & Lawson, Tony, 1980. "On the Nature of Industrial Decline in the UK," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 4(1), pages 85-102, March.
    7. Runde, Jochen, 1998. "Assessing Causal Economic Explanations," Oxford Economic Papers, Oxford University Press, vol. 50(2), pages 151-172, April.
    8. Baert, Patrick, 1996. "Realist Philosophy of the Social Sciences and Economics: A Critique," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(5), pages 513-522, September.
    9. Hodgson, Geoff, 1989. "Institutional Rigidities and Economic Growth," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 13(1), pages 79-101, March.
    10. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    11. Andrea Salanti & Ernesto Screpanti (ed.), 1997. "Pluralism in Economics," Books, Edward Elgar Publishing, number 900.
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    Cited by:

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    2. Melia, Dr Steve, 2019. "Why did UK governments cut road building in the 1990s and expand it after 2010?," Transport Policy, Elsevier, vol. 81(C), pages 242-253.
    3. Hassan Danaeefard, 2022. "Implication studies: a methodological framework," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(5), pages 3159-3188, October.

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