Lee, Frederic (2012): Critical realism, grounded theory, and theory construction in heterodox economics.
Download (390kB) | Preview
This paper proposes an approach to theory creation and evaluation for heterodox economics that is based in the integration of critical realism and the method of grounded theory. Critical realism provides the concepts of structures and causal mechanisms that form the outline of theory construction, while the grounded theory method provides the research strategy to transform them into a theory. After this is set out in the first two sections of the paper, research methods issues, such as data triangulation, case studies, analytical statistics (econometrics), and mathematics and modeling, are discussed. The final section of the paper deals with the historical character of critical realist-grounded theories and the implication for heterodox economic theories.
|Item Type:||MPRA Paper|
|Original Title:||Critical realism, grounded theory, and theory construction in heterodox economics|
|Keywords:||Heterodox; Critical Realism; Grounded Theory|
|Subjects:||D - Microeconomics > D0 - General
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches
B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology
|Depositing User:||Frederic Lee|
|Date Deposited:||30. Jul 2012 20:20|
|Last Modified:||23. Apr 2015 08:45|
Appleby, J., Hunt, L., and Jacob, M. (1994) Telling the Truth About History, New York: W. W. Norton and Company.
Arestis, P. (1996) ‘Post-Keynesian Economics: Towards Coherence’, Cambridge Journal of Economics 20(1): 111-35.
Betz, H. K. (1988) ‘How Does the German Historical School Fit?’ History of Political Economy, 20(3): 409–30.
Bigus, O. E., Hadden, S. C., and Glaser, B. G. (1994) ‘The Study of Basic Social Processes’, in B. G. Glaser (ed.) More Grounded Theory Methodology: a reader, 38-64, Mill Valley: Sociology Press.
Boland, L. (1989) The Methodology of Economic Model Building: methodology after Samuelson, London: Routledge.
Boylan, T. and O'Gorman, P. (1995) Beyond Rhetoric and Realism in Economics: towards a reformulation of economic methodology, London: Routledge.
Brown, A., Slater, G., and Spencer, D. A. (2002) ‘Driven to Abstraction? Critical Realists and the Search for the ‘Inner Connection’ of Social Phenomena’, Cambridge Journal of Economics, 26(6): 773-88.
Bryant, A. and Charmaz, K. (eds) (2007) The SAGE Handbook of Grounded Theory, Los Angeles: SAGE Publications.
Carr, D. (1986) ‘Narrative and the Real World: an argument for continuity’, History and Theory: studies in the philosophy of history, 25(2): 117–31.
Charmaz, K. (1983) ‘The Grounded Theory Method: An Explication and Interpretation’, in R. M. Emerson (ed.) Contemporary Field Research: a collection of readings, 109-26, Boston: Little, Brown and Company.
Coates, J. (1996) The Claims of Common Sense: Moore, Wittgenstein, Keynes and the social sciences. Cambridge: Cambridge University Press.
Corbin, J. and Strauss, A. (1990) ‘Grounded Theory Research: procedures, canons, and evaluative criteria’, Qualitative Sociology, 13: 3-21.
Danermark, B., Ekstrom, M., Jakobsen, L., and Karlsson, J. Ch. (2002) Explaining Society: critical realism in the social sciences, London: Routledge.
Davidson, P. (1996) ‘Reality and Economic Theory’, Journal of Post Keynesian Economics, 18(4): 479-508.
Dey, I. (1999) Grounding Grounded Theory: guidelines for qualitative inquiry, San Diego: Academic Press.
______ (2007) ‘Grounding Categories,’ in A. Bryant and K. Charmaz (eds) The SAGE Handbook of Grounded Theory, 167-190, Los Angeles: SAGE Publications.
Diesing, P. (1971) Patterns of Discovery in the Social Sciences, New York: Aldine.
Dopfer, K. and Potts, J. (2008) The General Theory of Economic Evolution, London: Routledge.
Dow, S. C. (1990) ‘Post-Keynesianism as Political Economy: a methodological discussion,’ Review of Political Economy, 2(3): 345-58.
______ (1999) ‘Post Keynesianism and Critical Realism: what is the connection?’ Journal of Post Keynesian Economics, 22(1): 15-34.
______ (2001) ‘Post Keynesian Methodology,’ in R. F. Holt and S. Pressman (eds) A New Guide to Post Keynesian Economics, 11–20, London: Routledge.
Downward, P. (1999) Pricing Theory in Post Keynesian Economics: a realist approach, Cheltenham: Edward Elgar.
______ (ed.) (2003) Applied Economics and the Critical Realist Critique, London: Routledge.
Downward, P. and Mearman, A. (2002) ‘Critical Realism and Econometrics: constructive dialogue with Post Keynesian Economics’, Metroeconomica, 53(4): 391–415.
______ (2007) ‘Retroduction as Mixed-Methods Triangulation in Economic Research: reorienting economics into social science’, Cambridge Journal of Economics, 31(1): 77–99.
Dupre’, J. (2001) ‘Economics Without Mechanism’, in U. Maki (ed.) The Economic World View: studies in the ontology of economics, 308–32, Cambridge: Cambridge University Press.
Eisenhardt, K. M. (1989) ‘Building Theories from Case Study Research’, Academy of Management Review, 14(4): 532-50.
Ellis, B. (1985) ‘What Science Aims to Do’, in P. M. Churchland and C. A. Hooker (eds) Images of Science, 48–74, Chicago: The University of Chicago Press.
Finch, J. H. (2002) ‘The Role of Grounded Theory in Developing Economic Theory’, Journal of Economic Methodology, 9(2): 213–34.
Fleetwood, S. (2001a) ‘Causal Laws, Functional Relations and Tendencies’, Review of Political Economy, 13(2): 201-20.
______ (2001b) ‘Conceptualizing Unemployment in a Period of Atypical Employment: a critical realist perspective’, Review of Social Economy, 59(1): 45–69.
Fusfeld, D. R. (1980) ‘The Conceptual Framework of Modern Economics’, Journal of Economic Issues, 14(1): 1-52.
George, A. L. (1979) ‘Case Studies and Theory Development: the method of structured, focused comparison’, in P. G. Lauren (ed.) Diplomacy: new approaches in history, theory, and policy, 43-68, New York: The Free Press.
Glaser, B. G. (1992) Emergence vs Forcing: basics of grounded theory analysis, Mill Valley: Sociology Press.
______ (2007) ‘Doing Formal Theory,’ in A. Bryant and K. Charmaz (eds) The SAGE Handbook of Grounded Theory, 97-113, Los Angeles: SAGE Publications.
Glaser, B. G. and Strauss, A. L. (1967) The Discovery of Grounded Theory: strategies for qualitative research, New York: Aldine Publishing Company.
Goulding, C. (2002) Grounded Theory: a practical guide for management, business and market Researchers, London: SAGE Publications.
Gruchy, A. G. (1987) The Reconstruction of Economics: an analysis of the fundamentals of Institutional economics, New York: Greenwood Press.
Hodgson, G. M. (1998) ‘Emergence’, in J. B. Davis, D. W. Hands, and U. Maki (eds) The Handbook of Economic Methodology, 156–60, Cheltenham: Edward Elgar.
___________ (2000) ‘From Micro to Macro: The Concept of Emergence and the Role of Institutions’, in L. Burlamaquiun, A. C. Castro, and H.-J. Chang (eds) Institutions and the Role of the State, 103-26, Cheltenham: Edward Elgar.
Hunt, S. D. (1994) ‘A Realist Theory of Empirical Testing: resolving the theory-ladenness/objectivity debate’, Philosophy of the Social Sciences, 24(2): 133–58.
Israel, G. (1981) ‘’Rigor’ and ‘Axiomatics’ in Modern Mathematics’, Fundamenta Scientiae, 2: 205– 19.
______ (1991) ‘Volterra’s ‘Analytical Mechanics’ of Biological Associations’, Archives Internationales d’Histoire des Sciences, 41(1): 307–352.
Joseph, J. (1998) ‘In Defense of Critical Realism’, Capital and Class, 65: 73-106.
Kempster, S. and Parry, K. W. (2011) ‘Grounded Theory and Leadership: a critical realist perspective’, The Leadership Quatrerly, 22(1): 106-20.
Konecki, K. (1989) ‘The Methodology of Grounded Theory in the Research of the Situation of Work’, The Polish Sociological Bulletin, 2: 59-74.
Lawson, C., Peacock, M., and Pratten, S. (1996) ‘Realism, Underlabouring and Institutions’, Cambridge Journal of Economics, 20(1): 137-51.
Lawson, T. (1989) ‘Abstraction, Tendencies and Stylised Facts: a realist approach to economic analysis’, Cambridge Journal of Economics, 13(1): 59 – 78.
______ (1994) ‘The Nature of Post Keynesianism and its Links to other Traditions: a realist perspective’, Journal of Post Keynesian Economics, 16(4): 503-38.
______ (1996) ‘Developments in 'Economics as Realist Social Theory'‘, Review of Social Economy, 54(4): 405-22.
______ (1997) Economics and Reality, London: Routledge.
______ (1998a) ‘Tendencies’, in J. B. Davis, D. W. Hands, and U. Maki (eds) The Handbook of Economic Methodology, 493–98, Cheltenham: Edward Elgar.
______ (1998b) ‘Transcendental Realism’, in J. B. Davis, D. W. Hands, and U. Maki (eds) The Handbook of Economic Methodology, 504-10, Cheltenham: Edward Elgar.
______ (1998c) ‘Social Relations, Social Reproduction and Stylized Facts’, in P. Arestis (ed.) Method, Theory and Policy in Keynes: essays in honour of Paul Davidson, vol. 3, 17–43, Cheltenham: Edward Elgar.
______ (1999a) ‘Connections and Distinctions: Post Keynesianism and critical realism’, Journal of Post Keynesian Economics, 22(1): 3-14.
______ (1999b) ‘Critical Issues in Economics as Realist Social Theory’, in S. Fleetwood (ed.) Critical Realism in Economics: development and debate, 209–57, London: Routledge.
______ (2003) Reorienting Economics, London: Routledge. Layder, D. (1990) The Realist Image in Social Science, Basingstoke: The Macmillan Press Ltd.
Lee, F. S. (2002) ‘Theory Creation and the Methodological Foundation of Post Keynesian Economics’, Cambridge Journal of Economics, 26(6): 789-804.
_____ (2003) ‘Theory Foundation and the Methodological Foundations of Post Keynesian Economics’, in P. Downward (ed.) Applied Economics and the Critical Realist Critique, 170-93, London: Routledge.
_____ (2005) ‘Grounded Theory and Heterodox Economics’, The Grounded Theory Review: an international journal, 4(2): 95-116.
Lewis, P. (2004) ‘Transforming Economics? On Heterodox Economics and the Ontological Turn in Economic Methodology’, in P. Lewis (ed) Transforming Economics: perspectives on the critical realist project, 1-32, London: Routledge.
Lloyd, C. (1993) The Structures of History, Oxford: Basil Blackwell Ltd.
Locke, K. (2001) Grounded Theory in Management Research, London: SAGE Publications Ltd.
Maki, U. (1989) ‘On the Problem of Realism in Economics,’ Ricerche Economiche, 43(1-2): 176–98.
______ (1992a) ‘The Market as an Isolated Causal Process: a metaphysical ground for realism’, in B. J. Caldwell and S. Boehm (eds) Austrian Economics: tensions and new directions, 35–59, Boston: Kluwer Academic Publishers.
______ (1992b) ‘On the Method of Isolation in Economics,’ Poznaan Studies in the Philosophy of the Sciences and the Humanities, 26: 317–51.
______ (1996) ‘Scientific Realism and Some Pecularities of Economics,’ in R. S. Cohen, R. Hilpinen, and Q. Renzong (eds) Realism and Anti-Realism in the Philosophy of Science, 427–47, Dordrecht: Kluwer Academic Publishers.
______ (1998a) ‘Realism,’ in J. B. Davis, D. W. Hand and U. Maki (eds) The Handbook of Economic Methodology, 404–09, Cheltenham: Edward Elgar.
______ (1998b) ‘Aspects of Realism About Economics,’, Theoria, 13(2): 310–19.
______ (2001) ‘The Way the World Works (www): towards an ontology of theory choice,’ in U. Maki (ed.) The Economic World View: studies in the ontology of economics, 369–89, Cambridge: Cambridge University Press.
McCullagh, C. B. (1984) Justifying Historical Descriptions, Cambridge: Cambridge University Press.
______ (2000) ‘Bias in Historical Description, Interpretation, and Explanation’, History and Theory: Studies in the Philosophy of History, 39(1): 39–66.
Megill, A. (1989) ‘Recounting the Past: 'Description,' Explanation, and Narrative in Historiography’, American Historical Review, 94: 627-53.
Morgan, M. (2002) ‘Models, Stories, and the Economic World’, in U. Maki (ed) Fact and Fiction in Economics: Models, realism and social construction, 178-201, Cambridge: Cambridge University Press.
______ (2007) ‘Afterword: Reflections on exemplary narratives, cases, and model organisms’, in A. N. H. Creager, E. Lunbeck, and M. N. Wise (eds) Science Without Laws: Model systems, cases, exemplary narratives, 264-74, Durham: Duke University Press.
______ (2009a) ‘Models and Modelling in Economics,’ Unpublished. Http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1499975.
______ (2009b) ‘Modelling as a Method of Enquiry’, Unpublished. Http://www2.lse.ac.uk/economicHistory/pdf/Morgan/Morgan%20Chap1%20Modelling%20as%20a%20Method%20of%20Enquiry.pdf.
Morrison, M. and Morgan, M. S. (1999) ‘Models as Mediating Instruments’, in M. S. Morgan and M. Morrison (eds) Models as Mediators: perspectives on natural and social science, 10–37, Cambridge: Cambridge University Press.
Morse, J. M., Stern, P. N., Corbin, J., Bowers, B., Charmaz, K., and Clarke, A. E. (2009) Developing Grounded Theory: the second generation, Walnut Creek: Left Coast Press, Inc.
Norman, A. P. (1991) ‘Telling it Like it Was: historical narratives on their own terms’, History and Theory: Studies in the Philosophy of History, 30(2): 119–35.
Oliver, C. (2012) ‘Critical Realist Grounded Theory: a new approach for social work research’, British Journal of Social Work, 42(2): 371-87.
Olsen, W. (2003) ‘Triangulation, Time and the Social Objects of Econometrics’, in R. Downward (ed.) Applied Economics and the Critical Realist Critique, 153–69, London: Routledge.
______ (2012) Data Collection: key debates and methods in social research, Los Angeles: Sage.
Olsen, W. and Morgan, J. (2005) ‘A Critical Epistemology of Analytical Statistics: addressing the skeptical realist’, Journal for the Theory of Social Behavior, 35(3): 255-84.
Orum, A. M., Feagin, J. R., and Sjoberg, G. (1991) ‘Introduction: the nature of the case study’, in J. R. Feagin, A. M. Orum, and G. Sjoberg (eds) A Case for the Case Study, 1-26, Chapel Hill: The University of North Carolina Press.
Pentland, B. T. (1999) ‘Building Process Theory with Narrative: From Description to Explanation’, Academy of Management Review, 24(4): 711–24.
Pratt, A. (1995) ‘Putting Critical Realism to Work: the practical implications for geographical research’, Progress in Human Geography, 19: 61-74.
Reid, G. C. (1993) Small Business Enterprise: an economic analysis, London: Routledge.
Reid, G. C., Jacabsen, L. R., and Anderson, M. E. 1993) Profiles in Small Business: a competitive strategy approach, London: Routledge.
Rotheim, R. J. (1999) ‘Post Keynesian Economics and Realist Philosophy’, Journal of Post Keynesian Economics, 22(1): 71-104.
Runde, J. (1998) ‘Assessing Causal Economic Explanations’, Oxford Economic Papers, 50: 151-72.
Sarre, P. (1987) ‘Realism in Practice’, Area, 19: 3-10.
Sayer, A. (1992) Method in Social Science: a realist approach, 2nd edn, London: Routledge.
Scheibl, F. and Wood, A. (2005) ‘Investment Sequencing in the Brick Industry: an application of grounded theory’, Cambridge Journal of Economics, 29(2): 223–47.
Setterfield, M (1995) ‘Historical Time and Economic Theory’, Review of Political Economy, 7(1): 1-28.
______ (2003) ‘Critical Realism and Formal Modelling: incompatible bedfellows?, in P. Downward (ed.) Applied Economics and the Critical Realist Critique, 71-88, London: Routledge.
Smith, L. M. (1998) ‘Biographical Method’, in N. K. Denzin and Y. S. Lincoln (eds) Strategies of Qualitative Inquiry, 184-224, Thousand Oaks: SAGE Publications.
Spiethoff, A. (1952) ‘The ‘Historical’ Character of Economic Theories’, The Journal of Economic History, 12(2): 131–39.
______ (1953) ‘Pure Theory and Economic Gestalt Theory: Ideal Types and Real Types’, in F. C. Lane and J. C. Riemersma (eds) Enterprise and Secular Change: readings in economic history, 444–63, Homewood: Richard D. Irwin.
Stake, R. E. (1998) ‘Case Studies’, in N. K. Denzin and Y. S. Lincoln (eds) Strategies of Qualitative Inquiry, 86-109, Thousand Oaks: SAGE Publications.
Strauss, A. L. (1987) Qualitative Analysis for Social Scientists, Cambridge: Cambridge University Press.
Strauss, A. and Corbin, J. (1990) Basics of Qualitative Research: grounded theory procedures and techniques, Newbury Park: Sage Publications.
______ (1994) ‘Grounded Theory Methodology: an overview’, in N. K. Denzin and Y. S. Lincoln (eds) Handbook of Qualitative Research, 273-85, Thousand Oaks: Sage Publications.
Sugden, R. (2002) ‘Credible Worlds: the status of theoretical models in economics’, in U. Maki (ed) Fact and Fiction in Economics: Models, realism and social construction, 107-36, Cambridge: Cambridge University Press.
Tosh, J. (1991) The Pursuit of History, 2nd edn, London: Longman.
Tsang, E. and Kwan, K.-M. (1999) ‘Replication and Theory Development in Organization Science: a critical realist perspective’, Academy of Management Review, 24(4): 759–80.
Vaughan, D. (1992) ‘Theory Elaboration: the heuristics of case analysis’, in C. C. Ragin and H. S. Becker (eds) What is a Case? exploring the foundations of social inquiry, 173-202, Cambridge: Cambridge University Press.
Walter, B. and Young, D. (2003) ‘Critical Realism, Methodology and Applied Economics’, in P. Downward (ed.) Applied Economics and the Critical Realist Critique, 51-65, London: Routledge.
Weintraub, E. R. (1998a) ‘From Rigor to Axiomatics: The Marginalization of Griffith C. Evans’, in M. S. Morgan and M. Rutherford (eds) From Interwar Pluralism to Postwar Neoclassicism, 227–59, Durham: Duke University Press.
______ (1998b) ‘Controversy: Axiomatisches Miβverstandis’, The Economic Journal, 108(451): 1837–1847.
______ (2001) ‘Measurement, and Changing Images of Mathematical Knowledge’, in J. L. Klein and M. S. Morgan (eds) The Age of Economic Measurement, 303–12, Durham: Duke University Press.
______ (2002) How Economics Became a Mathematical Science, Durham: Duke University Press.
Wellman, B. and Berkowitz, S. D. (eds) (1997) Social Structures: a network approach, Greenwich: JAI Press Inc.
Wieviorka, M. (1992) ‘Case Studies: History or Sociology?’ in C. C. Ragin and H. S. Becker (eds) What is a Case? exploring the foundations of social inquiry, 159-72, Cambridge: Cambridge University Press.
Wilber, C. K. and Harrison, R. S. (1978) ‘The Methodological Basis of Institutional Economics: pattern model, storytelling, and holism’, Journal of Economic Issues, 12(3): 61-89.
Yeung, H. (1997) ‘Critical Realism and Realist Research in Human Geography: a method or a philosophy in search of a method?’ Progress in Human Geography, 21: 51-74.
Yin, R. K. (1981a) ‘The Case Study Crisis: Some Answers’, Administrative Science Quarterly, 26: 58-65.
______ (1981b) ‘The Case Study as a Serious Research Strategy’, Knowledge: Creation, Diffusion, Utilization, 3(1): 97-114.
______ (1994) Case Study Research: design and methods, 2nd edn, London: Sage Publications.