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Cambridge Journal of Economics 27:49-64 (2003)
Copyright © 2003 Cambridge Political Economy Society

Article

Confronting the science/value split: notes on feminist economics, institutionalism, pragmatism and process thought

Julie A. Nelson *

*Fellow, Center for the Study of Values in Public Life, Harvard Divinity School.

Address for correspondence: Julie A. Nelson, Global Development and Environment Institute, Cabot Center, Tufts University, Medford, MA 02155, USA; email: julie.nelson{at}tufts.edu

Abstract

What changes must economics undergo, if it is to become a more adequate discipline, furthering of survival and flourishing? This essay argues that a break must be made from contemporary mainstream economics at the level of ontology (i.e., about the nature of reality). Drawing on neglected traditions of pragmatist philosophy and process metaphysics, some elements of ‘old’ institutionalist economics, and late-twentieth century natural science, it demonstrates that ample argument exists for a view of the world as open, evolving and permeated with value. Furthermore, feminist scholarship offers an explanation for why such a worldview faces an uphill battle for acceptance.

Key Words: Feminism • Science • Value • Institutionalism • Pragmatism


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