Review of Social Economy

Articles from Vol. 54, No. 4, Winter

Developments in Economics as Realist Social Theory
Social theory explicitly committed to elaborating the nature of social being and/or how we access social reality is experiencing something of a revival in economics.(1) The papers collected below can all be counted as contributing to this trend. In fact...
Metaphor and Critical Realism
I. INTRODUCTION Critical realism asserts that the world investigated by science consists of objects that are structured and intransitive: structured in the sense that they are irreducible to the events of experience; and intransitive in the sense that...
Money Is a Social Relation
INTRODUCTION There is no denying that views on money are as difficult to describe as are shifting clouds. (Schumpeter 1994 (1954): 289)(1) Money is a puzzle. The standard answer to the question of what is money derives from the late nineteenth-century...
On Popper, Probabilities and Propensities
A puzzling feature of the many contributions in economics that refer to Karl Popper's writings is how few of them mention his propensity interpretation of probability.(1) This may well be because this interpretation was initially proposed with physics...
Realism, Theory, and Individualism in the Work of Carl Menger
I. INTRODUCTION Recent years have witnessed a revival of interest in the study of institutions in economics. Accompanying this, there has come an increased awareness of the writings of earlier economists in which a focus on institutions is central....
The "Closure" Assumption as a First Step: Neo-Ricardian Economics and Post-Keynesianism
I. INTRODUCTION The position of neo-Ricardian economics(1) remains controversial. Specifically, there is significant debate regarding the extent to which neo-Ricardianism can be incorporated within a coherent Post-Keynesian perspective. Related to this,...
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