Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/22690
Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Formalism, logic and reality: a Keynesian analysis
Authors: Chick, Victoria
Dow, Sheila
Contact Email: s.c.dow@stir.ac.uk
Keywords: formalism
Keynes
open systems
closure
Issue Date: 1-Nov-2001
Publisher: Oxford University Press
Citation: Chick V & Dow S (2001) Formalism, logic and reality: a Keynesian analysis, Cambridge Journal of Economics, 25 (6), pp. 705-721.
Abstract: It is the purpose of this paper to elaborate on the argument that formalism is non‐neutral; analyses which today would be described as informal turn into something quite different when formalised. The reasons for non‐neutrality refer to the choice of assumptions or axioms, the choice of method, the type of logic employed and closure. Focusing on the last three of these, the paper addresses the question of how to move from results obtained with formal methods under conditions of closure to the reality one is attempting to model. We explore the need for provisional closure to analyse open systems and for a range of methods to complement formal modelling in the attempt to understand the complex reality of an economic system.
Type: Journal Article
URI: http://hdl.handle.net/1893/22690
DOI Link: http://dx.doi.org/10.1093/cje/25.6.705
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: University College London
Economics

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