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Cambridge Journal of Economics Advance Access originally published online on November 20, 2007
Cambridge Journal of Economics 2008 32(2):163-202; doi:10.1093/cje/bem041
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© The Author 2007. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

Economics, realism and reality: a comparison of Mäki and Lawson

Duncan Hodge*

Address for correspondence: Dept. of Economics, University of South Africa, Box 392, Pretoria, Unisa 0003 Republic of South Africa; email: Hodged{at}unisa.ac.za.

There is presently considerable debate about the application and interpretation of realism in economics. Interest in this area of the philosophy and methodology of economics has intensified over the last twenty years, especially owing to the substantial contributions by Uskali Mäki and Tony Lawson, respectively. Although their work falls under the same banner of realism in economics, their projects differ significantly in many important respects. This review tries to clarify the contrasting approaches of each author and explains the main reasons for the differences between them. The emphasis is on clarification of their respective positions rather than a comprehensive critical evaluation as such.

Key Words: Realism • Economics and Reality • Mäki • Lawson

JEL classifications: B40, B41, B49

* I would like to acknowledge and thank Economic Research Southern Africa (ERSA) for the financial support for this project.

Manuscript received May 15, 2006; final version received March 9, 2007.


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