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Cambridge Journal of Economics 26:805-821 (2002)
Copyright © 2002 Cambridge Political Economy Society

Article

Metatheory as the key to understanding: Schumpeter after Shionoya

Mário da Graça Moura *

*Faculdade de Economia, Universidade do Porto.

Address for correspondence: Mário da Graça Moura, Faculdade de Economia do Porto, Rua Dr. Roberto Frias, 4200-464 Porto, Portugal; email: mgm{at}fep.up.pt

Abstract

In his recent book, Yuichi Shionoya departs from previous Schumpeterian studies. He sets out to reconstruct Schumpeter's metatheoretical framework, which he argues is the key to a correct interpretation of his substantive writings. The centrepiece of this project is the thesis that Schumpeter has a coherent methodological position—instrumentalism—which consistently underpins his theoretical work. The present paper examines this thesis, and in so doing paves the way for an alternative hypothesis on Schumpeter. This hypothesis is based on Tony Lawson's work on the philosophy of economics.

Key Words: Schumpeter • Critical realism • Instrumentalism


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