Clarifying and Developing the ‘Economics and Reality’ Project: Closed and Open Systems, Deductivism, Prediction, and Teaching
Author(s)
Lawson, Tony
Abstract
Criticisms against the book ‘Economics and Reality’ by Tony Lawson are discussed and disputed. These criticisms focus mainly on closed and open economic systems, social reality, deductivism, realism and the use of prediction in the manner of mainstream economists. It is argued that the focus of mainstream economics is on the regularities between actual phenomena and that reality, both natural and social, is open and structured. The reasonable coexistence of realisms and relativisms and their implications on teaching are also discussed.
