ABSTRACT

The “discipline” of economics has its discontents. And for good reasons too. The particular form of theorizing most prevalent and most valued is curiously devoid of empirical or conceptual richness. The focus on “modeling” as a method has been critiqued for its various requirements in terms of what the world must be like for such an understanding (via a priori models) to be legitimate.We find that “the world” and “the model” very often do not add up.