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The Binding Force of Economics

Colin Harris (St. Olaf College, MN)
Andrew Myers (Stanford Institute for Economic Policy Research, CA, USA)
Christienne Briol (St. Olaf College, MN, USA)
Sam Carlen (St. Olaf College, MN, USA)

Contemporary Methods and Austrian Economics

ISBN: 978-1-80262-288-1, eISBN: 978-1-80262-287-4

Publication date: 27 January 2022

Abstract

A discipline is bound by some combination of a shared subject matter, shared theory, and shared technique. Yet modern economics is seemingly without limit to its domain. As a discipline without a shared subject matter, what is the binding force of economics today? The authors combine topic modeling and text analysis to analyze different approaches to inquiry within the discipline of economics. The authors find that the importance of theory has declined as economics has increasingly become defined by its empirical techniques. The authors question whether this trajectory is stable in the long run as the binding force of the discipline.

Keywords

Citation

Harris, C., Myers, A., Briol, C. and Carlen, S. (2022), "The Binding Force of Economics", D'Amico, D.J. and Martin, A.G. (Ed.) Contemporary Methods and Austrian Economics (Advances in Austrian Economics, Vol. 26), Emerald Publishing Limited, Leeds, pp. 69-103. https://doi.org/10.1108/S1529-213420220000026006

Publisher

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Emerald Publishing Limited

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