Generate QR code
Open Access
Subscription Access
Some Claims Made for Critical Realism in Economics: Two Case Studies
https://doi.org/10.32609/0042-8736-2006-7-37-52
Abstract
The article critically examines claims made by two prominent critical realists on behalf of their philosophy - on the Marx’s law of the tendency of the rate of profit to fall and on the workplace organization theory of the relative decline of the British economy. These two case studies raise important questions concerning critical realism in economics. The character of critical realism as a movement is also analyzed.
References
1. Baert P. Realist Philosophy of the Social Sciences and Economics: a Critique // Cambridge Journal of Economics. 1996. Vol. 20. No 5. P. 513-522.
2. Bhaskar R. Philosophy and the Idea of Freedom. Oxford: Basil Blackwell, 1991.
3. Bhaskar R. Reclaiming Reality: A Critical Introduction to Contemporary Philosophy. London: Verso, 1989.
4. Bhaskar R., Collier A. Introduction: Explanatory Critiques // Archer M. S., Bhaskar R., Collier A., Lawson T., Norrie A. (eds.) Critical Realism: Essential Readings. London: Routledge, 1998. P. 385-394.
5. Blaug M. A Methodological Appraisal of Marxian Economics. Amsterdam: North-Holland, 1980.
6. Bowles S. Technical Change and the Profit Rate: A Simple Proof of the Okishio Theorem // Cambridge Journal of Economics. 1981. Vol. 5. No 2. P. 183-186.
7. Caves R. E. Productivity Differences Among Industries // Caves R. E., Krause L. B. (eds.) Britain's Economic Performance. Washington, DC: Brookings Institution, 1980.
8. Choi K. A Statistical Test of Olson's Model // Mueller D. C. (ed.) The Political Economy of Growth. New Haven: Yale University Press, 1983. P. 57-78.
9. Collier A. Critical Realism: An Introduction to Roy Bhaskar's Philosophy. London: Verso, 1994.
10. Collier A. Scientific Realism and Socialist Thought. Hemel Hempstead: Harvester Wheatsheaf, 1989.
11. Critical Realism in Economics: Development and Debate / Fleetwood S. (ed.) London: Routledge, 1998.
12. Faulkner P. The Problem of Agency in Critical Realism // Cambridge Journal of Economics. 2002. Vol. 26. No 6. P. 739-751.
13. Fleetwood S. Hayek's Political Economy: the Socio-Economics of Order. London: Routledge, 1995.
14. Glyn A., Sutcliffe R. British Capitalism, Workers and the Profits Squeeze. Hammondsworth: Penguin, 1972.
15. Hobsbawm E. J. Industry and Empire. London: Weidenfeld and Nicolson, 1968; Ingham G. Capitalism Divided? The City and Industry in British Social Development. London: Macmillan, 1984.
16. Hodgson G. M. An Evolutionary Theory of Long-term Economic Growth // International Studies Quarterly. 1996. Vol. 40. P. 393-412.
17. Hodgson G. M. Institutional Rigidities and Economic Growth // Cambridge Journal of Economics. 1989. Vol. 13. No 1. P. 79-101.
18. Hodgson G. M. Marching to the Promised Land? Some Doubts On the Theoretical and Policy Affinities of Critical Realism (with a response by A. Collier and a rejoinder) // Alethia. 1999. Vol. 2. No 2. P. 2-13.
19. Hodgson G. M. On the Рolitical Economy of the Socialist Transformation // New Left Review. 1982. No 133. P. 52-66.
20. Hodgson G. M. Some Claims Made for Critical Realism in Economics: Two Case Studies // Journal of Economic Methodology. 2004. Vol. 11. No 1. P. 53-73.
21. Hodgson G. M. The Theory of the Falling Rate of Profit // New Left Review. 1974. No 84. P. 55-82.
22. Kaldor N. Causes of the Slow Rate of Economic Growth in the United Kingdom: An Inaugural Lecture. Cambridge: Cambridge University Press, 1966.
23. Kilpatrick A., Lawson T. On the Nature of Industrial Decline in the UK // Cambridge Journal of Economics. 1980. Vol. 4. No 1. P. 85-102.
24. Landes D. S. The Unbound Prometheus. Cambridge: Cambridge University Press, 1969.
25. Lawson T. Economics and Reality. London: Routledge, 1997.
26. Lawson T. Hayek and Realism: A Case of Continuous Transformation // Colonna M., Hagemann H., Hamouda O. F. (eds.) Capitalism, Socialism and Knowledge: The Economics of F. A. Hayek. Aldershot: Edward Elgar, 1994. Vol. 2. P. 131-159.
27. Lewis P. A. Metaphor and Critical Realism // Review of Social Economy. 1996. Vol. 54. No 4. P. 487-506.
28. Mäki U. The One World and Many Theories // Salanti A., Screpanti E. (eds.) Pluralism in Economics: New Perspectives in History and Methodology. Aldershot: Edward Elgar, 1997. P. 37-47.
29. Okishio N. Technical Change and the Profit Rate // Kobe University Economic Review. 1961. No 7. P. 86-99.
30. Purdy D. L. British Capitalism Since the War. Parts I and II // Marxism today. 1976. No 9, 10.
31. Runde J. H. Assessing Causal Economic Explanations // Oxford Economic Papers. 1998. Vol. 50. No 1. P. 151-172.
32. Stafford G. B. The Class Struggle, the Multiplier and the Alternative Economic Strategy // Sawyer M., Schott K. (eds.) Socialist Economic Review. 1983. London: Merlin. P. 1-21.
33. Steedman I. Marx after Sraffa. London: NLB, 1977; Van Parijs P. The Falling-rate-of-profit Theory of Crisis: a Rational Reconstruction by way of obituary // Review of Radical Political Economics. 1980. Vol. 12. No 1. P. 1-16.
34. Sweezy P. M. The Theory of Capitalist Development. London: Dobson, 1942.
35. The Decline of the British Economy / Elbaum B., Lazonick W. (eds.) Oxford: Oxford University Press, 1986.
36. The Economic Decline of Modern Britain: The Debate Between Left and Right / Coates D., Hillard J.(eds.) Brighton: Harvester, 1986.
37. Van Parijs P. The Falling-rate-of-profit Theory of Crisis: a Rational Reconstruction by way of obituary // Review of Radical Political Economics. 1980. Vol. 12. No 1. P. 1-16.
38. Walters B., Young D. Is Critical Realism the Appropriate Basis for post Keynesianism? // Journal of Post-Keynesian Economics. 1999. Vol. 22. No 1. P. 105-123.
39. Wiener M. J. English Culture and the Decline of Industrial Spirit 1850-1980. Cambridge: Cambridge University Press, 1981.
40. Wilson J. F. British Business History, 1720-1994. Manchester: Manchester University Press, 1995.
Review
For citations:
Hodgson G. Some Claims Made for Critical Realism in Economics: Two Case Studies. Voprosy Ekonomiki. 2006;(7):37-52. (In Russ.) https://doi.org/10.32609/0042-8736-2006-7-37-52
Views:
616
Email this article 
