Why do we need pluralism in times of disruption? A practical guide

Author:Małgorzata Dereniowska. taken from: pp.10-12 of WEA Commentaries 10(4), December 2020https://www.worldeconomicsassociation.org/files/2020/12/Issue10-4.pdf Today we are going through a period of disruption due to the COVID-19 pandemic that impacts us individually and collectively in an unprecedented manner. Because we see how interconnected we are, the sense of unity, solidarity in time of crisis is necessary. So why… Read More Why do we need pluralism in times of disruption? A practical guide

Scientist qua scientist, scientist qua citizen Part II: The double-edge approach to science

Scientific epistemology is a serious business in economics—as it is in any science. Not surprisingly, therefore, discussions about value-ladeness tend to focus on theoretical and methodological issues within the discipline, while the question of the social consequences of science is approached with more reservation. And for many good reasons, one may say, because it is… Read More Scientist qua scientist, scientist qua citizen Part II: The double-edge approach to science

Scientist qua scientist, scientist qua citizen: Part I

That economics is a value-laden science is not a new idea. Most of the prominent economic thinkers were also philosophers, wary of moral and philosophical content of scientific assumptions, models, and theories. That economics needs philosophy, and the separation between these two cannot be maintained any longer, is gaining recognition, and has become a subject… Read More Scientist qua scientist, scientist qua citizen: Part I

The Keynesian Revolution and the Monetarist Counter-Revolution

{bitl.ly/KRMCR} Post 4/4 about Economic Methodology Before Keynes, Classical Economic Theory (CET) was based on three principles. The First Principle is that Unemployment is automatically eliminated by the free market. The Second Principle is the Quantity Theory of Money, which states that money supply makes no difference to real economic outcomes. The Third Principle is… Read More The Keynesian Revolution and the Monetarist Counter-Revolution

The Emergence of Science

{Continuation of previous post: Misconceived Project of Social Science} Historical accidents have shrouded the emergence of science and the scientific method behind multiple veils of mystery. Misunderstanding the nature of science has led to seriously defective methodologies in modern social science, especially economics. The first barrier to understanding is created by Eurocentric history which states… Read More The Emergence of Science