Table of Contents

Handbook of Research Methods and Applications in Heterodox Economics

Handbook of Research Methods and Applications in Heterodox Economics

Handbooks of Research Methods and Applications series

Edited by Frederic S. Lee and Bruce Cronin

Despite the important critiques of the mainstream offered by heterodox economics, the dominant method remains econometrics. This major new Handbook provides an invaluable introduction to a range of alternative research methods better suited for analysing the social data prominent in heterodox research projects, including survey, historical, ethnographic, experimental, and mixed approaches, together with factor, cluster, complex, and social network analytics. Introductions to each method are complemented by descriptions of applications in practice.

Chapter 14: Modeling as a research method in heterodox economics

Frederic S. Lee

Subjects: economics and finance, history of economic thought, methodology of economics, post-keynesian economics, radical and feminist economics, research methods, research methods in economics

Abstract

In this chapter, Frederick Lee argues that modeling is a research method that contributes to the development of heterodox economic theory. Moreover, he argues that mathematical modeling is consistent with critical realism and the method of grounded theory when the structures and causal mechanisms in the real world are constitutes the world in the model. As a result working the world in the model helps develop the critical realist_grounded theory (CR-GT) narrative of how the real world works.

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