Rights and wrongs of economic modelling: refining Rodrik

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This is a critical discussion and proposed refinement of the inspiring account of the successes and failures of economic modelling sketched in Dani Rodrik's Economics Rules. The refinements make use of a systematic framework of the structure of scientific modelling. The issues include distinguishing the discipline of economics from the behaviour and attitudes of economists as targets of normative assessment; nature and sources of success and failure in modelling; the key role of model commentary; model transparency; purposes and audiences of modelling; the nature of critical assumptions; negligibility, applicability, and tractability in modelling; the possibility of generally applicable models; and economics fundamentalism. The proposed refinements submit sharper formulations for some of Rodrik's ideas and supplement others, but they also reveal tensions and relieve some - not yetall - of these.
Original languageEnglish
JournalJournal of Economic Methodology
Issue number3
Pages (from-to)218-236
Number of pages19
Publication statusPublished - 2018
MoE publication typeA1 Journal article-refereed

Fields of Science

  • 611 Philosophy
  • 511 Economics

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