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Signs of reality - reality of signs. Explorations of a pending revolution in political economy

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  • Hanappi, Hardy

Abstract

This paper explores the interaction between the world of information processes in human society and the non-information dynamics, which the latter set out to understand. This broad topic is approached with a focus on evolutionary political economy: It turns out that progress in this scientific discipline seems to depend crucially on a methodological revolution reframing this above mentioned interplay. The paper consists of three parts. After a brief introduction, which sketches the position of the argument in the current epistemological discourse, part 1 sets out to describe the basic methodological ingredients used by evolutionary political economy to describe the ‘reality’ of socioeconomic dynamics. Part 2 jumps to the world of languages used and proposes a rather radical break with the received apparatus of analytical mathematics used so successfully in sciences studying non-living phenomena. The development of procedural simulation languages should substitute inadequate mathematical formalizations, some examples are provided. Part 3 then returns to ‘reality’ dynamics, but now incorporates the interaction with the information sphere in a small algorithmic model. This model – like the introduction - again makes visible the relationships to earlier research in the field. Instead of a conclusion – several, hopefully innovative ideas are provided in passing, throughout the paper - an epilogue is provided, which tries to indicate the implications of this methodological paper for political practice in face of the current global crisis.

Suggested Citation

  • Hanappi, Hardy, 2011. "Signs of reality - reality of signs. Explorations of a pending revolution in political economy," MPRA Paper 31570, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:31570
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    File URL: https://mpra.ub.uni-muenchen.de/31570/1/MPRA_paper_31570.pdf
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    References listed on IDEAS

    as
    1. David Colander, 2010. "The economics profession, the financial crisis, and method," Journal of Economic Methodology, Taylor & Francis Journals, vol. 17(4), pages 419-427.
    2. Amitava Krishna Dutt, 2011. "The role of aggregate demand in classical-Marxian models of economic growth," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 35(2), pages 357-382.
    3. Hanappi, Hardy, 2006. "Endogenous Needs, Values and Technology," MPRA Paper 28880, University Library of Munich, Germany.
    4. Kurt Dopfer, 2011. "Evolution and Complexity in Economics Revisited," Papers on Economics and Evolution 2011-02, Philipps University Marburg, Department of Geography.
    5. Scott E. Page, 2007. "Prologue to The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies," Introductory Chapters, in: The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies, Princeton University Press.
    6. Wolfram Elsner & Hardy Hanappi (ed.), 2008. "Varieties of Capitalism and New Institutional Deals," Books, Edward Elgar Publishing, number 12843.
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    Cited by:

    1. Hanappi, Hardy, 2013. "Future methods of political economy: from Hicks’ equation systems to evolutionary macroeconomic simulation," MPRA Paper 47181, University Library of Munich, Germany.

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    More about this item

    Keywords

    Scientific methods; evolutionary political economy; formal languages; ideology;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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