Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155460
Authors: 
Galbács, Peter
Year of Publication: 
2016
Series/Report no.: 
CHOPE Working Paper 2016-32
Abstract: 
Through this paper I try to join the lively debate around mainstream economics with a view to calling attention to some methodological aspects. It is aimed at outlining an interpretation based on Max Weber's traditional neoclassical methodology that can help us to find the adequate territory of abstract-idealized mainstream models. Special attention is paid to an assessment of the relationship between models and reality. It is argued here that scrutinizing this relationship should reach beyond the oversimplifying approach of empirical tests. Simultaneously, this assessment gives us a refined set of aspects by the application of which to contemporary macroeconomics some methodological breaks can also be highlighted. These breaches would not have been revealed by a linear narrative.
Subjects: 
assumptions
realism
instrumentalism
abstraction
idealisation
mainstream economics
JEL: 
B22
B41
E32
Document Type: 
Working Paper

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