Abstraction, Tendencies and Stylised Facts: A Realist Approach to Economic Analysis

Tony Lawson ()

Cambridge Journal of Economics, 1989, vol. 13, issue 1, 59-78

Abstract: In his numerous methodological asides and assertions that feature in his more empirically-oriented, postwar contributions, Nicholas Kaldor makes frequent reference to notions of abstraction, tendencies, and stylized facts. However, the employment of such terms seems rarely to be explicitly questioned, justified, or explicated. This paper argues that such notions can be readily explicated and their employment justified through adopting an explicitly realist approach to economic analysis. It is also argued that realism represents a serious alternative to current orthodox approaches to economics without suffering from some of the latter's more obvious limitations. Copyright 1989 by Oxford University Press.

Date: 1989
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