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A Meta-theoretical Assessment of the Decline of Scholastic Economics

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  • S. Drakopoulos
  • G.N. Gotsis

Abstract

The aim of this paper is to offer certain insights into the process of decline of scholastic economics in late medieval and early modern European intellectual circles. In this attempt, the paper adopts the meta-theoretical framework of Laudan’s philosophy of science and introduces the concept of scientific research tradition in pre-classical economic thought. It then considers the features of the scholastic research tradition, specifies its empirical and conceptual problems and presents a general scenario which assesses its performance over time. Of primary importance, in this respect, becomes the issue of evaluating the external and internal factors in the disintegration of the scholastic tradition, whose constraints reflect its incorporation into a broader ethical analysis, and necessitate its transformation into a more secular approach to economic phenomena.

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  • S. Drakopoulos & G.N. Gotsis, 2004. "A Meta-theoretical Assessment of the Decline of Scholastic Economics," History of Economics Review, Taylor & Francis Journals, vol. 40(1), pages 19-45, January.
    • Handle: RePEc:taf:rherxx:v:40:y:2004:i:1:p:19-45
    DOI: 10.1080/18386318.2004.11681189
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    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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