ABSTRACT
The main claims in this book are that 1) economics is a social science; this implies it is different from natural sciences and requires a different methodology; 2) it is supposed to be a tool to explain and predict real-world economic behavior as well as a guide for economic policy; 3) pluralism is necessary to allow the existence of different research programs competing with each other.
Mainstream economics looks more like a branch of applied mathematics rather than an empirical science.
In economics there is not, broadly speaking, anything like a crucial experiment. For this reason, it is vital to make sure the existence of a level playing field where rival research programs compete with each other. In this environment, progressive research programs have the chance of succeeding over degenerating ones.
The researcher, as any human being, inevitably watches the reality through the lens of ideology. For this reason, she has to prove that the statements she makes are not just the result of her ideological bias but the result of the use of a scientific method.
As there is no crucial experiment in social science to discern between theories, they coexist side by side, available to be employed by the followers of each school of thought according to their respective affiliation.
The applied economist or the policy-maker has to take into account all the factors that are relevant for the case under study, be they quantitative or qualitative.
