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Plurality in economics

Sheila Dow

No 011/2006, SCEME Working Papers: Advances in Economic Methodology from SCEME

Abstract: There is evidence of growing plurality in economic theory, alongside an increasing degree of homogenisation at the level of methodology. The purpose of this paper is to explore these developments in the light of the methodological literature on pluralism, regarding meaning of plurality, and the arguments for it. Issues raised by plurality are then explored: regarding mathematical formalism, the ‘anything goes’ approach, and the rationale for schools of thought. It is concluded that, if plurality is not to take the form of ‘anything goes’, then critical discussion by economists of different approaches to economics, and of pluralism itself, is required.

Keywords: pluralism; heterodox-economics (search for similar items in EconPapers)
JEL-codes: B4 B5 (search for similar items in EconPapers)
Date: 2006-01
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