Applied Economics: A Critical Realist Approach (Routledge by Paul Downward

By Paul Downward

This interesting new publication examines and analyses the position of severe realism in economics and particularly how this line of suggestion might be utilized to the true global. With contributions from such various commentators as Sheila Dow, Wendy Olsen and Fred Lee, this new ebook is exclusive in its procedure and may be of serious curiosity to either fiscal methodologists and people occupied with utilized financial reports.

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Additional info for Applied Economics: A Critical Realist Approach (Routledge Frontiers of Political Economy)

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Between the winters of 1992–93 and 1995–96, only 9 per cent of the 750,000 new jobs created were permanent and full time. Half were permanent part-time and a further 15 per cent were temporary part-time (TUC, 1996). Now, most economic literature on part-time employment tends to be quantitative and statistical, focusing on the average part-timer. Whilst it is interesting to know that part-time work is on the increase, or that mean hourly wages of part-timers is lower than that of full timers, such statistical statements illuminate very little of the reality of the employment experience, and often in fact, disguise far more significant issues.

1963) ‘Problems of Methodology – Discussion’, American Economic Review Papers and Proceedings, 52: 231–6. -M. (1998) The Evolving Rationality of Rational Expectations: An Assessment of Thomas Sargent’s Achievements, Cambridge, Cambridge University Press. Smith, A. ), Essays on Philosophical Subjects, Oxford, Clarendon, 1980, pp. 33–105. The claimant count fell to 996,000 in February, the lowest since December 1975. (Labour Research, 2001, p. 6) Reports like this, drawing upon official unemployment figures, are hotly debated.

It has echoes in eighteenth-century debate about science which grappled with issues concerning the best way to build up knowledge about the real world as the basis for changing that world. But as it developed science took on a life of its own such that its relationship with reality became less of a focus for attention and accordingly more tenuous. Critical realism has refocused our attention on an independent reality and what is required to build knowledge about it in order to change it. The important agenda would now appear to be to build on these foundations, more explicit direct applications of critical realism, to demonstrate the practical difference which such an approach makes.

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