Critical Realism as a Basis for Economic Methodology

A critique

Bibliographic Data

ID8107313
AuthorsBernard Walters (corresponding author), David Young (0000-0002-4693-0663)
Year2001
Volume13
Issue4
Pages483-501
Publication date2001-10-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueReview of Political Economy (JOURNAL)
Journal identifiersISSN: 0953-8259 • E-ISSN: 1465-3982
PublisherTaylor & Francis (PUBLISHER • GB)
DOI10.1080/09538250120099971
OpenAlexW2041084926
LanguageEN
Citations received5
References cited15

This paper considers the claim that critical realism provides a convincing critique of mainstream economics and offers a sound methodological basis for an alternative approach. It argues that critical realism presents a tendentious definition of positivism and a characterisation of mainstream economics that is misleading, and that it misrepresents the nature and purpose of the work of Hume and modern Humean philosophers. It also argues that critical realism's bold ontological claims lack epistemological support. The paper concludes that critical realism does not provide a compelling basis for economic methodology

Applied economics · Critical realism (philosophy of perception · Direct and indirect realism · Economic methodology · Economics · Epistemology · Mainstream · Mainstream economics · Philosophical realism · Positive economics · Positivism · Realism · Sociology · Western philosophy · Critical Realism in Sociology · Economic theories and models · Economic Theory and Institutions · Philosophy

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