Premium
Adolph Lowe's Paradigm Shift for a Scientific Economics: An Interpretive Perspective
Author(s) -
Chase Richard X.
Publication year - 1983
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1983.tb01703.x
Subject(s) - politics , perspective (graphical) , democracy , state (computer science) , positive economics , paradigm shift , corollary , process (computing) , economics , sociology , epistemology , neoclassical economics , social science , political science , philosophy , law , computer science , mathematics , artificial intelligence , algorithm , pure mathematics , operating system
A bstract . The economist Adolph Lowe has developed a methodological alternative, designated Political Economics , for the development of economic theory and the application of economic policy. In totality his system—with a methodology he calls instrumental—makes up a unity that can be seen as a logically derived paradigm shift for economics as a scientific discipline. Under it, by a democratic political process , some desired end‐state is first consciously and systematically determined. Then economic means are instrumentally employed to bring about the economic and social behavior necessary to attain and maintain that end‐state. Available knowledge and tools are useful for this model; however, there is no question that the approach raises significant technical, political and philosophical issues. But these are overshadowed by Lowe's paradigmatic vision, and its corollary modular framework of Political Economics.