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Disciplined reasoning: Styles of reasoning and the mainstream-heterodoxy divide in Swedish economics

Anders Hylmö
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TLDR
The authors argue that the mainstream-heterodoxy divide is fruitfully understood in terms of the institutionalised stabilisation of a disciplinary style of reasoning, and show how economists understand their scientific approach and its merits.
Abstract
Economics is one of the most influential social science disciplines, with a high level of internal consent around a common theoretical and methodological approach to economic analysis. However, marginalised schools of thought have increasingly unified under the term “heterodox” economics, with their critical stance towards the “neoclassical mainstream” as common denominator. This has spawned debates among scholars about how to understand the nature of the mainstream-heterodoxy divide in economics.This thesis sets out to explain how such a common approach to science is generalised and stabilised in modern economics, and how this process is related to heterodoxy. Grounded in the sociology of science, it aims first to provide an empirical account of the mainstream-heterodoxy dynamics in Swedish economics, and second, to contribute to theory development. Drawing on the literature on distinct styles of reasoning in the history of science, I develop a theoretical framework of relational disciplinary styles of reasoning, which is used to analyse two bodies of empirical material from Swedish economics. The first is an in-depth interview study with researchers in economics, and the second is a document study of expert evaluation reports from the hiring of professors of economics at four of the top Swedish universities during 25 years. Through the two empirical studies, the fine-grained qualitative material provides an insight into the ways economists understand their discipline and the character of proper knowledge production.I argue that the mainstream-heterodoxy divide is fruitfully understood in terms of the institutionalised stabilisation of a disciplinary style of reasoning, and show how economists understand their scientific approach and its merits. The maintenance of the style of reasoning is the achievement of the thought collective of economists, where boundaries are constructed in relation to contesting heterodox economics and to other scientific disciplines. I show how the disciplinary style with its conception of good science and the notion of a core of the discipline is linked to the reproduction of disciplinary boundaries. I trace how this plays out through shifting quality evaluation practices, and show how top journal rankings have become a powerful judgement device which links the hierarchical ranking of top journals to the notion of a disciplinary core, and effectively functions as a mechanism of disciplinary stabilisation. In conclusion, I argue that these processes form a self-stabilising system in which the disciplinary style of reasoning and its boundaries is reproduced, with potential implications for how we understand intellectual dynamics and pluralism. (Less)

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References
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Book

Ideology and utopia: an introduction to the sociology of knowledge

Karl Mannheim
TL;DR: Mannheim as mentioned in this paper proposed a preliminary approach to the Problem of Utopianism in the context of scientific political science and proposed a new edition of the new edition, "The Prospects of Scientific Politics".
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The specificity of the scientific field and the social conditions of the progress of reason

TL;DR: The sociology of science rests on the postulate that the objective truth of the product even in the case of that very particular product, scientific truth lies in a particular type of social conditions of production, or, more precisely, in a determinate state of the structure and functioning of the scientific field as discussed by the authors.
BookDOI

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TL;DR: The Road from Mont Pelerin this paper is a seminal work in the history of economic thought, focusing on the formation and evolution of modern neoliberalism in the early 1970s.
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Negotiating a Market, Performing Theory: The Historical Sociology of a Financial Derivatives Exchange

TL;DR: The Chicago Board Options Exchange (CBOW) as discussed by the authors is one of the most popular derivatives markets in the US, and it has been shown that social interaction in such markets generates trust, permits solution of collective action problems, and affects pricing.