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Methodological Pluralism and Pluralism of Method

In: Foundations for New Economic Thinking

Author

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  • Sheila C. Dow

    (University of Stirling)

Abstract

Pluralism is the philosophical position that the ultimate reality of the universe consists of a plurality of entities; it is an ontological position. But the concept of pluralism can be applied at a variety of levels: to the (epistemological) understanding of reality (whether its ultimate nature is a plurality or not), to the methods employed to theorise about that understanding of reality, to the methodology which sets the criteria for theory choice and to the study of methodologies themselves. Pluralism has been advocated at all of these levels in economics discourse. Yet an understanding of what is entailed by methodological pluralism and pluralism of method has been hampered by lack of reference to epistemological and ontological foundations. In particular, pluralism takes on a different meaning in a closed-system mode of thought (as in mainstream economics) from its meaning in an open-system mode of thought (as in Post-Keynesian economics or institutional/evolutionary economics). The former can be thought of as ‘pure pluralism’, as the dual of a monist position, while the latter involves a more limited, although crucial, pluralism.

Suggested Citation

  • Sheila C. Dow, 2012. "Methodological Pluralism and Pluralism of Method," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 8, pages 129-139, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-00072-9_8
    DOI: 10.1057/9781137000729_8
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    Cited by:

    1. Randall G. Holcombe, 2008. "Pluralism versus Heterodoxy in Economics and the Social Sciences," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 1(2), pages 51-72, March.
    2. Maximilian Tallgauer & Christoph Schank, 2023. "Rethinking Economics Education for Sustainable Development: A Posthumanist Practice Approach," Sustainability, MDPI, vol. 15(11), pages 1-14, June.
    3. Sergios Tzotzes & Dimitris Milonakis, 2021. "Paradigm Change or Assimilation? The Case of Behavioral Economics," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(1), pages 173-192, March.
    4. Dr Paul Downward, "undated". "Realism and Inference in Economics: A Note," Working Papers 98-7, Staffordshire University, Business School.
    5. Agnieszka Zakrzewska-Bielawska & Anna M. Lis & Anna Ujwary-Gil, 2022. "Use of structural equation modeling in quantitative research in the field of management and economics: A bibliometric analysis in the systematic literature review," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 18(2), pages 7-40.

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