Realism, closed systems and abstraction

Stephen Pratten

Journal of Economic Methodology, 2007, vol. 14, issue 4, pages 473-497

Abstract: The particular use made of the terms 'open and closed systems' by proponents of critical realism has generated some critical commentary in recent years. In this paper it is shown how debates about open and closed systems provide a perspective from which to address certain fundamental questions in economic methodology. It is argued that the meaning and significance that advocates of critical realism attach to these terms can be clarified by understanding the context within which they were developed. The paper shows how the limitations associated with dominant perspectives both in the philosophy of science and within economics could more effectively be revealed once the terms 'open and closed systems' had been elaborated upon. A partial comparison with the work of Nancy Cartwright is developed.

Keywords: Abstraction; idealization; isolation; closed system; ontology (search for similar items in EconPapers)
Date: 2007

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