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How economic orthodoxy protects its dominant position

Summary:
From Lars Syll John Bryan Davis (2016) has offered a persuasive account of the way an economic orthodoxy protects its dominant position. Traditional ‘reflexive domains’ for judging research quality — the theory-evidence nexus, the history and philosophy of economics — are pushed aside. Instead, research quality is assessed through journal ranking systems. This is highly biased towards the status quo and reinforces stratification: top journals feature articles by top academics at top institutions, top academics and institutions are those who feature heavily in top journals. Because departmental funding is so dependent on journal scores, career advancement is often made on the basis of these rankings — they are not to be taken lightly. It is not that competition is lacking, but it is

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from Lars Syll

John Bryan Davis (2016) has offered a persuasive account of the way an economic orthodoxy protects its dominant position. Traditional ‘reflexive domains’ for judging research quality — the theory-evidence nexus, the history and philosophy of economics — are pushed aside. Instead, research quality is assessed through journal ranking systems. This is highly biased towards the status quo and reinforces stratification: top journals feature articles by top academics at top institutions, top academics and institutions are those who feature heavily in top journals.

How economic orthodoxy protects its dominant positionBecause departmental funding is so dependent on journal scores, career advancement is often made on the basis of these rankings — they are not to be taken lightly. It is not that competition is lacking, but it is confined to those who slavishly accept the paradigm, as defined by the gatekeepers — the journal editors. In this self-referential system it is faithful adherence to a preconceived notion of ‘good economics’ that pushes one ahead.

Robert Skidelsky 

How economic orthodoxy protects its dominant position

The only economic analysis that mainstream economists accept is the one that takes place within the analytic-formalistic modeling strategy that makes up the core of mainstream economics. All models and theories that do not live up to the precepts of the mainstream methodological canon are pruned. You’re free to take your models — not using (mathematical) models at all is considered totally unthinkable — and apply them to whatever you want — as long as you do it within the mainstream approach and its modeling strategy.

If you do not follow that particular mathematical-deductive analytical formalism you’re not even considered doing economics. ‘If it isn’t modeled, it isn’t economics.’

That isn’t pluralism.

That’s a methodological reductionist straightjacket.

Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

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