This collection of essays examines the methodological problems
confronting economists in the face of two major developments in the
second half of the twentieth century. The first is the vast
increase in the number and variety of writings on the methodology
or 'philosophy' of economics, especially from those intensively
specialising in methodology. This has led to the virtual breakdown
in communication between methodologists and mainstream economists,
with methodology becoming increasingly isolated from mainstream
economics. The second major development has been what Benjamin Ward
first called 'the formalist revolution' which he, not
unjustifiably, described as 'more important than the Keynesian
Revolution'. Professor Hutchison attempts to contribute to serious
methodological analysis of this 'revolution' and, at the same time,
suggests how communication between mainstream economists and
methodologists might be improved.
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