Economic pluralism: the role of narrative

Jonathan Warner

International Journal of Pluralism and Economics Education, 2018, vol. 9, issue 4, 358-375

Abstract: In a post-truth world of alternative facts pluralism is back in vogue, but for all the wrong reasons. Narrative and story-telling are important to our understanding of the world: facts are placed within a context, and the consistency of the narrative can be tested by appeal to the presuppositions and plausibility of the story. Since the enlightenment, and probably before, the prevailing worldview has tended to assume that there was just one correct narrative, and that determining the truth was via the methods of empirical science. A plea for pluralism in economics, therefore, at first sight seems rather odd. This paper argues for a new meta-narrative for economics - a new framework within which different narratives can thrive. The advantages of such an approach are explained, along with a consideration of the challenges of policy formation within a pluralistic world.

Keywords: narrative; pluralism; modernist epistemology; post-modernism; rationality. (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijplur:v:9:y:2018:i:4:p:358-375

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