ECONOMICS AND SOCIAL ENGINEERING FROM THE PERSPECTIVE OF THE FINANCIAL CRISIS
ECONOMICS AND SOCIAL ENGINEERING FROM THE PERSPECTIVE OF THE FINANCIAL CRISIS

Summary/Abstract: In opposition to the negative connotations attached to the term social engineering in economics, the objective of this article is to call attention to the approach to engineering as a paradigm for scientific research as recommended by Steven L. Goldman. The history of economics and the experiences derived from the most recent crisis confirm Goldman’s premise regarding the need for change in the approach dominant in Western science. From this perspective, in following the trail of the natural sciences and accepting a rationalistic- positivist view of science, orthodox economists have squandered the potential embedded in the methodological approach defended by heterodox economists, who are being pushed onto the margins. The engineering paradigm can protect macroconomists against modeling that is isolated from realistic premises.

• Details
• Contents