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The Status of Economics as a Naturalistic Social Science

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  • Beed, Clive
  • Beed, Cara

Abstract

Naturalistic social science is held frequently to be the most effective means of discovering social reality (e.g., Kincaid, H. 1996; McIntyre, L. 1996). This paper evaluates economics as such a science. From Kincaid, criteria for naturalism in social science are identified. The focus here is whether rational, objective empirical methods exist for choosing economic theories; whether fair, cross and independent tests exist for theories, assumptions and methodological norms; and whether economic theories chosen in these ways have public policy relevance. Examples from economics are related to each of these naturalistic criteria. These encompass the relevance of econometrics to testing economic theories, the complications the non-natural-kind quality of economic variables impose on testing, and the question of whether naturalistic methods reveal economic reality. The paper concludes that the practice of economics does not, and is not able to, rely on naturalistic methods. Copyright 2000 by Oxford University Press.

Suggested Citation

  • Beed, Clive & Beed, Cara, 2000. "The Status of Economics as a Naturalistic Social Science," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(4), pages 417-435, July.
    • Handle: RePEc:oup:cambje:v:24:y:2000:i:4:p:417-35
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    Cited by:

    1. Clive Beed, 2006. "What is the relationship of religion to economics?," Review of Social Economy, Taylor & Francis Journals, vol. 64(1), pages 21-45.
    2. Raina, Rajeswari S., 2003. "Disciplines, institutions and organizations: impact assessments in context," Agricultural Systems, Elsevier, vol. 78(2), pages 185-211, November.
    3. Lukáš Kovanda, 2011. "Ekonomie budoucnosti: čtyři možné scénáře [The Future of Economics: Four Possible Scenarios]," Politická ekonomie, Prague University of Economics and Business, vol. 2011(6), pages 743-758.

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