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Are Functional Relations Always the Alter Ego of Humean Laws?

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  • Mark Setterfield

Abstract

It has recently been suggested in the pages of this journal that 'functional relations are the alter ego of Humean laws' (Fleetwood, 2001, p. 205). Based on the identification of an open-systems, ceteris-paribus (OSCP) approach to formal modelling, it is argued that this claim is true only some of the time and problematic only some of the time that it is true. The paper goes on to demonstrate that functional relations that are consistent with the OSCP approach to formal modelling can provide useful tools in various domains of the stratified ontology identified by critical realists. The OSCP approach to formalism is contrasted with a second, axiomatic approach to formalism that is identified as advising the mainstream formal modelling project.

Suggested Citation

  • Mark Setterfield, 2007. "Are Functional Relations Always the Alter Ego of Humean Laws?," Review of Political Economy, Taylor & Francis Journals, vol. 19(2), pages 203-217.
    • Handle: RePEc:taf:revpoe:v:19:y:2007:i:2:p:203-217
    DOI: 10.1080/09538250701256763
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    References listed on IDEAS

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    1. Mark Setterfield (ed.), 2002. "The Economics of Demand-Led Growth," Books, Edward Elgar Publishing, number 1864.
    2. Mark Setterfield (ed.), 2006. "Complexity, Endogenous Money and Macroeconomic Theory," Books, Edward Elgar Publishing, number 3552.
    3. Amitava K. Dutt (ed.), 1994. "New Directions In Analytical Political Economy," Books, Edward Elgar Publishing, number 157.
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    Cited by:

    1. Mark Setterfield, 2014. "An essay on horizontalism, structuralism and historical time," Working Papers 1402, Trinity College, Department of Economics.
    2. Mark Setterfield, 2015. "Heterodox economics, social ontology, and the use of mathematics," Working Papers 1503, New School for Social Research, Department of Economics, revised May 2015.

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