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Assessing Causal Economic Explanations

Jochen Runde

Oxford Economic Papers, 1998, vol. 50, issue 2, 151-72

Abstract: Recent years have witnessed a growing interest in causal realism in the methodology of economics. Some of this literature reflects a strong skepticism about the existence of sharp event-regularities or 'laws' in the economic realm and, accordingly, about the prospects for the covering-law approach to explanation that dominates modern economic theory. This paper outlines an alternative, causal, approach to economic explanation and attempts to answer an important question often asked about it: how should causal economic explanations be assessed? Copyright 1998 by Royal Economic Society.

Date: 1998
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