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The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies

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  • Amavilah, Voxi Heinrich

Abstract

Economists failed badly both to predict and solve the Great Global Recession of 2008-2010 for two interconnected reasons. The first is that economics has moved too far away from its social foundations. The second reason is that the positivist economic methodology that economics follows has produced both benefits and costs, perhaps even costs than benefits, one may argue. This paper looks at the available evidence (not exhaustively) to argue for a Caldwellian methodological pluralism. It illustrates the advantages of such a methodological approach as well as the disadvantages of its alternatives, especially monolithic positivism.

Suggested Citation

  • Amavilah, Voxi Heinrich, 2012. "The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies," MPRA Paper 44656, University Library of Munich, Germany, revised 28 Feb 2013.
    • Handle: RePEc:pra:mprapa:44656
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    More about this item

    Keywords

    Economic methodology; methodological pluralism; philosophy of economic science; economic research methods; explanation versus prediction.;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • Y80 - Miscellaneous Categories - - Related Disciplines - - - Related Disciplines

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