Kaldor on method: A challenge to contemporary methodology

Article Abstract:

Kaldor's methodological critique of orthodox economic theory is examined in the light of recent developments in the philosophy of science. A philosophically sophisticated interpretation of Kaldor's methodology has been provided by Lawson, in the context of a critical realist perspective. It is argued however that critical realism is too restrictive, and causal holism is proposed as an alternative framework.This is based on Quine's holism and van Fraassen's constructive empiricism.

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Does aggregate profitability really matter?

Article Abstract:

The role of profitability is re-examined following recent work on the determinants of investment and the impact of investment on growth. The focus is on long-run trends, rather than the shorter-run effect of profitability changes on unemployment. A rehabilitation for the long-run significance of profitability appears to be indicated, and the recovery of profitability in the 1980s is analyzed, with further data examining the way capital accumulation responded to this recovery.

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New solution or re(in)statement? A reply

Article Abstract:

Febrero argues that the approach advocated in Mohun (1994) yields paradoxical results unless the composition of net output stays constant. The interpretation of labour values, prices and the link between them differs from the D-F approach, which asserts a primacy to the consideration of aggregates and their class distribution.

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