Books and journals Case studies Expert Briefings Open Access
Advanced search

A Practical Approach to Understanding: The Possibilities and Limitations of Applied Work in Political Economy

Jayme Lemke
Jonathan Lingenfelter

The Austrian and Bloomington Schools of Political Economy

ISBN: 978-1-78714-844-4, eISBN: 978-1-78714-843-7

ISSN: 1529-2134

Publication date: 17 October 2017

Abstract

What can the applied economist do? In order to explore issues playing out in the “real world” of the past or present, the applied social scientist has to make a series of decisions about what they will accept as the facts of the situation. Particularly for research questions in which the beliefs, plans, and motivations of individuals matter – such as institutional analysis – this task requires the development of some degree of intersubjective understanding, or verstehen. For over 50 years, the Bloomington School of Institutional Analysis has been using fieldwork and deep archival history to conduct meaningful institutional analysis that takes interpretation and the quest for understanding seriously. As such, those who wish to take up the call for economists to take an “interpretive turn” can gain a great deal of insight and practical advice from the study of the Bloomington School’s methods and approach.

Keywords

  • Verstehen
  • Interpretation
  • Hermeneutics
  • Institutional analysis
  • IAD framework
  • B53
  • H13
  • C93

Citation

Lemke, J. and Lingenfelter, J. (2017), "A Practical Approach to Understanding: The Possibilities and Limitations of Applied Work in Political Economy", The Austrian and Bloomington Schools of Political Economy (Advances in Austrian Economics, Vol. 22), Emerald Publishing Limited, pp. 81-102. https://doi.org/10.1108/S1529-213420170000022005

Download as .RIS

Publisher

:

Emerald Publishing Limited

Copyright © 2017 Emerald Publishing Limited

Please note you do not have access to teaching notes

You may be able to access teaching notes by logging in via Shibboleth, Open Athens or with your Emerald account.
Login
If you think you should have access to this content, click the button to contact our support team.
Contact us

To read the full version of this content please select one of the options below

You may be able to access this content by logging in via Shibboleth, Open Athens or with your Emerald account.
Login
If you think you should have access to this content, click the button to contact our support team.
Contact us
Emerald Publishing
  • Opens in new window
  • Opens in new window
  • Opens in new window
  • Opens in new window
© 2021 Emerald Publishing Limited

Services

  • Authors Opens in new window
  • Editors Opens in new window
  • Librarians Opens in new window
  • Researchers Opens in new window
  • Reviewers Opens in new window

About

  • About Emerald Opens in new window
  • Working for Emerald Opens in new window
  • Contact us Opens in new window
  • Publication sitemap

Policies and information

  • Privacy notice
  • Site policies
  • Modern Slavery Act Opens in new window
  • Chair of Trustees governance statement Opens in new window
  • COVID-19 policy Opens in new window
Manage cookies

We’re listening — tell us what you think

  • Something didn’t work…

    Report bugs here

  • All feedback is valuable

    Please share your general feedback

  • Member of Emerald Engage?

    You can join in the discussion by joining the community or logging in here.
    You can also find out more about Emerald Engage.

Join us on our journey

  • Platform update page

    Visit emeraldpublishing.com/platformupdate to discover the latest news and updates

  • Questions & More Information

    Answers to the most commonly asked questions here