New Draft for Comments

My latest draft “Some methodological aspects of the controversy between mainstream economics and institutionalism” is ready for comments. It is available here.

Abstract:

Mainstream economics has been running the gauntlet of adverse criticism for decades. These critiques claim as a message of central importance that mainstream economics has lost its relevance as for understanding reality. By making a brief comparison between the methodological strategies of the main stream and institutional economics I suggest that the firm demarcation between the streams stems from the difference between their methodologies. Its peculiar interest directed mainstream economics to take a unique methodological path and consequently the adherents have not been able to be on the lookout for certain facets of socio-economic reality. However, the chosen path, the axiomatic-deductive strategy proved to be an appropriate method for identifying economic laws. This claim is justified even by some recent efforts of new institutional economics. In order to support the conversation between the schools I highlight some causes that currently make it impossible to start a rational discourse.

Keywords: mainstream economics, institutional economics, methodology of economics, isolation, homo oeconomicus

JEL codes: B13, B15, B41, C12

Any comments are warmly welcome.

discussion

Stand up for CEU

An open letter from Albert-Laszlo Barabasi.

Dear Friends,

I wish to thank all of you who have reached out to celebrate my 50th birthday yesterday. If you really wish to honor my half a century, help me speak up for higher education, and share it with your friends!

I returned in Budapest six years ago to help build a network science program at Central European University. We succeeded beyond our dreams–we have just enrolled the third cohort of network science PhD students; the university hired a number of fantastic faculty and is about to make one more hire, and the vibrant program on networks has affected the life of hundreds of students and researchers from all over Hungary. With that CEU became the center of network science in Europe, and Budapest Europe’s Network Capital!

All of this at risk right now, as the Hungarian Government has just moved a law in front of the parliament that, if passed, would revoke the mandate of CEU as an educational institution. A nation that rightly prides itself for its achievements in scholarship, is at risk of destroying the engine that trains its next generation of scientists.

Most of you know me for my research, which was only possible thanks to strong and proud educational institutions– from the Marton Aron Gimnazium in Transylvania, to the University of Bucharest, Eotvos University in Budapest, Boston University, University of Notre Dame, Northeastern University, Harvard University, Technical University of Budapest, and Central European University. Without these beacons of intellectual freedom, we would not have science, scholarship and I could not have helped develop network science!

So honor me today by speaking up for Central European University at every forum you have at your disposal! It does not matter where you are politically– speak, like I do, for research and scholarship!

Share this, and let the world know that you care! And sign the petition that will be delivered to the Parliament soon: goo.gl/WLxvjv

If you can influence decision makers, either in Hungary or in the US, at this moment when they need to hear your voice!

Albert-László Barabási
www.barabasi.com
@barabasi”

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