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Economics and Reality: A philosophical critique of transcendental realism

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  • Stephen Parsons

Abstract

In Economics and Reality Tony Lawson seeks to criticise and offer an alternative to mainstream economic theorising. The book draws upon the work of Bhaskar, advocating a form of realism termed transcendental realism, in opposition to the empirical realism taken to underpin mainstream theorising. However, the specific objections advanced by Lawson against empirical realism are frequently confused and confusing. Lawson's own appeal to structures suffers from lack of definition, and empirical realism seems more applicable to Keynesian, not mainstream, economics. The claim that the social sciences can be modelled on the natural sciences is not particularly illuminating.

Suggested Citation

  • Stephen Parsons, 1999. "Economics and Reality: A philosophical critique of transcendental realism," Review of Political Economy, Taylor & Francis Journals, vol. 11(4), pages 455-466.
    • Handle: RePEc:taf:revpoe:v:11:y:1999:i:4:p:455-466
    DOI: 10.1080/095382599106922
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    Cited by:

    1. Jochen Runde, 2001. "On Stephen Parsons' Philosophical Critique of Transcendental Realism," Review of Political Economy, Taylor & Francis Journals, vol. 13(1), pages 101-114.
    2. Muchlinski, Elke, 2004. "Kontroversen in der internationalen Währungspolitik: Retrospektive zu Keynes-White-Boughton & IMF," Discussion Papers 2004/1, Free University Berlin, School of Business & Economics.
    3. Stephen Parsons, 2001. "A Response to the Claim 'There is no Problem for Transcendental Realism Here'," Review of Political Economy, Taylor & Francis Journals, vol. 13(1), pages 115-123.

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