From the mainstream economics research frontier towards critical institutional political economy

Fernando García-Quero () and Fernando López Castellano ()

Brazilian Journal of Political Economy, 2022, vol. 42, issue 3, 619-637

Abstract: The attack of the traditions of political economy upon the orthodox economicsis directed at the pillars supporting its political philosophy and at the core of its deductiveand individualist methodology. This criticism challenges the current mainstream economicsresearch frontier, which includes the notions of ‘new’ institutional economics, among others.Recalling the tradition known as the ‘Other Canon’, this article criticises these theories andreclaims the principal arguments of a real critical institutional political economy agenda,based on the significant role of history in economic and social analysis, the inductivemethodology and the emphasis on power relationships and interest conflicts. JEL Classifications: B14; B31; B52; L22.

Keywords: Other canon; post-capitalism; economic crises; deductivist methods; critical institutionalism (search for similar items in EconPapers)
Date: 2022
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