Abstract
In Economics Rules, Rodrik [(2015). Economics rules: Why economics works, when it fails, and how to tell the difference. Oxford: Oxford University Press] argues that what makes economics powerful despite the limitations of each and every model is its diversity of models. Rodrik suggests that the diversity of models in economics improves its explanatory capacities, but he does not fully explain how. I offer a clearer picture of how models relate to explanations of particular economic facts or events, and suggest that the diversity of models is a means to better economic explanations.
Original language | English |
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Journal | Journal of Economic Methodology |
Volume | 25 |
Issue number | 3 |
Pages (from-to) | 237-251 |
Number of pages | 15 |
ISSN | 1350-178X |
DOIs | |
Publication status | Published - 2018 |
MoE publication type | A1 Journal article-refereed |
Fields of Science
- 611 Philosophy
- 511 Economics
- Theoretical models
- explanation
- diversity of models
- how-possibly reasoning
- functions of models
- EARNINGS INEQUALITY
- WAGE INEQUALITY
- DIFFERENTIATION
- COMPETITION
- ROBUSTNESS