5. Is economic theory still useful? (notice n° 146089)
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| fixed length control field | 01859cam a2200217 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112024551.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Arena, Richard |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | 5. Is economic theory still useful? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2020.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 5 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | In the post-war years, economic theory developed an authority that it had seldom wielded in the past. Until the 1970s, it essentially became a research program for the theory of general economic equilibrium, and its main feature was its scientific self-sufficiency: economics allegedly owed nothing to the other social sciences. This drastically changed from the late 1980s onward. Semi-new approaches such as random and laboratory experiments and experimentalist methods have increasingly attempted to enforce the need for experimental verification on economic theory, or even to replace it with inductive constructs. Secondly, the proliferation and systematic exploitation of big data has sometimes diminished the role of economic theory as such. Finally, replacing “closed” or self-contained theoretical constructs that claim to be axiomatically rigorous to greater and lesser degrees with “open” constructs that draw on other social sciences has changed the conceptual meaning of economic theory, notably via the use of the concept of complex systems. The purpose of our contribution is to analyze these new approaches and to assess what is currently left of the utility of economic theory. JEL classification codes: A, B2, B3, B4, B5. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Tony Lawson |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | definition |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | heterodox economics |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | ontology |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | realism |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Papers in Political Economy | o 77 | 1 | 2020-07-27 | p. 95-125 | 0154-8344 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-papers-in-political-economy-2020-1-page-95?lang=en">https://shs.cairn.info/journal-papers-in-political-economy-2020-1-page-95?lang=en</a> |
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