Monetary Economics, Banking and Policy

14 The practicality of pluralism in the economic analysis of the least developed countries

Daniel Gay

DOI: 10.4324/9781003142317-15

Introduction

Sheila’s contributions to economic methodology originate with her seminal The Methodology of Macroeconomic Thought (1996), which for the first time systematically compared the methodological approaches of various heterodox and mainstream positions, showing among other things that methodology had a clear impact on not only the choice of methods used, but on policy conclusions. This persuasive and practical defence of pluralism – in contrast to the monism of the mainstream – led to a series of works on pluralism in economics (for example, Dow 2002, 2003, 2004, 2012a, 2012b) which emphasised, in common ...