Template-Type: ReDIF-Article 1.0 Author-Name: Corinna Dengler Author-X-Name-First: Corinna Author-X-Name-Last: Dengler Title: Critical realism, feminisms, and degrowth: a plea for metatheory-informed pluralism in feminist ecological economics Abstract: In this paper, I defend the view that pluralism in economics needs to be metatheory-informed and that critical social scientists must reflect upon their underlying ontological, epistemological, methodological, and ethical assumptions. As a feminist ecological economist interested in making degrowth (more) feminist, I ask to what extent a critical realist metatheory can 'philosophically underlabour' a feminist degrowth approach. This paper introduces critical realism (CR) and critically examines it in ecological economics, degrowth, and feminist economics debates. Subsequently, I draw on the example of care to show how a CR metatheory can elucidate how the deep, underlying structure of separation in economics is responsible for the devaluation of care. I conclude that if combining a realist-relational ontology, an intersectional and postcolonial feminist standpoint epistemology, critical methodological pluralism, and an ethical foundation centring around the sustainability of life, a CR metatheory can serve a feminist degrowth approach well. Journal: Int. J. of Pluralism and Economics Education Pages: 23-42 Issue: 1 Volume: 13 Year: 2022 Keywords: critical realism; degrowth; feminist economics; ecological economics; feminist ecological economics; FEE; metatheory; philosophy of science; metatheory-informed pluralism; normative foundations; sustainability of life. File-URL: http://www.inderscience.com/link.php?id=124571 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:1:p:23-42 Template-Type: ReDIF-Article 1.0 Author-Name: Melissa Kennedy Author-X-Name-First: Melissa Author-X-Name-Last: Kennedy Title: A narrative approach to happiness measures: the complementary knowledge of fiction and film Abstract: Considerations of happiness, which have only come to the fore in economics since the World Happiness Report (WHR), are foundational to at least 4,000 years of storytelling. While mainstream economics tends to ignore its roots in moral philosophy and underplay well-being as a goal of economy, these aspects come to the fore in narrative. Narrative is unique in that it promotes relational rather than transactional values by foregrounding subjective, emotive and affective behaviour difficult to register in the WHR. This paper argues for the importance of narrative studies to pluralist economics through case studies of Charles Dickens's 1843 novella <i>A Christmas Carol</i>, and the 1997 British film <i>The Full Monty</i> that emphasise happiness, well-being and prosociality. As narrative becomes an increasingly common term in economics, it is crucial to get literary economists onboard with the heterodox programme, as economists can benefit from the knowledge unique to narrative. Journal: Int. J. of Pluralism and Economics Education Pages: 9-22 Issue: 1 Volume: 13 Year: 2022 Keywords: literary economics; World Happiness Report; WHR; economic narratives; eudemonia; common good; emotional well-being; prosociality; narrative studies; A Christmas Carol; The Full Monty. File-URL: http://www.inderscience.com/link.php?id=124573 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:1:p:9-22 Template-Type: ReDIF-Article 1.0 Author-Name: Patrick Klösel Author-X-Name-First: Patrick Author-X-Name-Last: Klösel Title: Optimal policy modelling? An argumentation theory approach to making sense of economic modelling Abstract: The 'unrealistic-assumptions' puzzle and the 'prediction-failure' puzzle pose problems to the current practice of policy modelling in economics. The standard accounts by Friedman, McCloskey, Sugden and Mäki fail to provide a criterion to expose problematic idealisations. In this paper, I develop the 'models-as-argumentations' view which sensitises the modeller and practitioners to the fact that in order to derive policy recommendations, the adequacy-for-purpose of the model at hand has to be considered more carefully. Regarding economic models as complex argumentations allows for rational policy recommendations but imposes a certain degree of realism on the model's assumptions. Journal: Int. J. of Pluralism and Economics Education Pages: 72-91 Issue: 1 Volume: 13 Year: 2022 Keywords: economic models; argumentation theory; unrealistic assumptions; adequacy-for-purpose; intellectual modesty; idealisation; realism; induction; policy recommendations; analogy; isomorphism. File-URL: http://www.inderscience.com/link.php?id=124574 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:1:p:72-91 Template-Type: ReDIF-Article 1.0 Author-Name: Florian Rommel Author-X-Name-First: Florian Author-X-Name-Last: Rommel Author-Name: Robert L. Kasperan Author-X-Name-First: Robert L. Author-X-Name-Last: Kasperan Title: Pluralism is not 'anything goes' - grounding pluralism in economics in diverse economies by rehabilitating Paul Feyerabend Abstract: Research in economics has become increasingly diverse. Some even speak of fragmentation. Thus, how to integrate a pluralism of methods in economics, becomes a major challenge of the discipline. But pluralism in economics is often associated negatively with a methodological 'anything goes'. We argue that contrary to widespread belief, the philosophy of Paul Feyerabend helps to resolve such worries. His concept of traditions allows us to address not just the epistemological dimensions of pluralism. With a diversity of economic traditions comes a diversity of normative orders which can be accommodated by an economic science subscribing to pluralism as a meta-tradition. Journal: Int. J. of Pluralism and Economics Education Pages: 43-71 Issue: 1 Volume: 13 Year: 2022 Keywords: pluralist economics; philosophy of economics; economic methodology; Paul Feyerabend; performativity; normative turn; pluralism; philosophy of science; diverse economies. File-URL: http://www.inderscience.com/link.php?id=124575 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:1:p:43-71 Template-Type: ReDIF-Article 1.0 Author-Name: Henri Schneider Author-X-Name-First: Henri Author-X-Name-Last: Schneider Title: Combination matters: why corporate bonds and shadow banking can threaten financial stability - a Minskyian perspective Abstract: This article investigates the systemic risk of the corporate bond market connected with the rise of shadow banking since 2008 in the light of Hyman Minsky's financial instability hypothesis, which considers advanced capitalist economies as inherently unstable and prone to booms and busts. Does today's market for corporate bonds threaten financial stability, especially the shift from commercial banking towards less regulated shadow banking? My goal is to show that this shift in connection with worrisome developments in the corporate bond sector could lead to rising instability in the financial markets. Subsequently, four policy proposals for financial regulation will be evaluated. Journal: Int. J. of Pluralism and Economics Education Pages: 103-119 Issue: 1 Volume: 13 Year: 2022 Keywords: Minsky; financial instability hypothesis; FIH; financial crisis; corporate debt; financial stability; financialisation. File-URL: http://www.inderscience.com/link.php?id=124576 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:1:p:103-119 Template-Type: ReDIF-Article 1.0 Author-Name: Jakob Fraisse Author-X-Name-First: Jakob Author-X-Name-Last: Fraisse Title: On the reciprocal potential of cultural anthropology and economics: the example of economised cultural work Abstract: This paper investigates how cultural anthropology and economics can overcome mutual (and artificial) foreclosure and use their potential reciprocity. As an example of transdisciplinary research, economised cultural work using jazz-festivals and their artistic directors is introduced. In ethnographic case-studies, the tension of ideational and economic values in which artistic directors work and contextualise their strategies in a culture-theoretical and economic discourse is described. As a result, existing financial or personal resources are often inadequate to realise the visions of artistic directors. This paper explains how both disciplines can and should learn about the benefits of overcoming mutual foreclosure to enable economics to become a transformative science. Journal: Int. J. of Pluralism and Economics Education Pages: 92-102 Issue: 1 Volume: 13 Year: 2022 Keywords: economic pluralism; transformation; transdisciplinary; cultural anthropology; ethnography; economisation; cultural work; cultural industry research. File-URL: http://www.inderscience.com/link.php?id=124581 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:1:p:92-102 Template-Type: ReDIF-Article 1.0 Author-Name: Bin Li Author-X-Name-First: Bin Author-X-Name-Last: Li Title: Algorithmic economics as an economics of thought Abstract: Computer science indicates that thinking means the processes in which a finite number of innate 'instructions' act serially, alternately, and selectively on data. This implies a roundabout method of production of thought, which consumes time and resources, and which requires and produces knowledge stocks. Optimising the computing economy and decision-making timeliness, computations must frequently adopt various methods other than deductive reasoning, thus leading to a subjective turn and the occurrence of innovations. The combinational explosion between instructions and data underscores that the socio-economic world is a one-way and explosive evolution (not too dissimilar) to the Big Bang, which begets the synthesis or unification of economics. Journal: Int. J. of Pluralism and Economics Education Pages: 176-191 Issue: 2 Volume: 13 Year: 2022 Keywords: bounded rationality; instruction; algorithm; combinatorial explosion; subjectivity; mental distortion. File-URL: http://www.inderscience.com/link.php?id=127214 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:2:p:176-191 Template-Type: ReDIF-Article 1.0 Author-Name: Junaid B. Jahangir Author-X-Name-First: Junaid B. Author-X-Name-Last: Jahangir Title: Teaching inequality to ECON 101 students Abstract: The objective of this paper is to offer an approach for teaching inequality to ECON 101 students. A principal argument made is that it is necessary to teach inequality to ECON 101 students and that any discussion of inequality is incomplete without addressing taxation. Multiple ways of broaching inequality are shown by a review of salient points from various textbooks and think tank analyses. The renewed approach is developed by motivating students through popular memes, data analysis, a comparative outlook of salient ideas, and a simple simulation exercise to study the impact of an increase in the top tax rate on tax revenues. Journal: Int. J. of Pluralism and Economics Education Pages: 138-157 Issue: 2 Volume: 13 Year: 2022 Keywords: inequality; ECON 101; top 1%; corporate taxes; wealth tax; top tax rates; teaching economics. File-URL: http://www.inderscience.com/link.php?id=127215 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:2:p:138-157 Template-Type: ReDIF-Article 1.0 Author-Name: Khandakar Q. Elahi Author-X-Name-First: Khandakar Q. Author-X-Name-Last: Elahi Title: Microeconomics, consumer theory, and the Michael Grossman model: some unexamined issues Abstract: The Michael Grossman model (MGM) is a theoretical cornerstone of health economics that is founded on the basic market model of modern mainstream economics. This basic model, this paper argues, has specific epistemic and logical properties that limit its replication to any applied branch of the discipline. The reason is that it is an 'abstract model', meaning that it has no referent. MGM intends to display the unique features of medical care demand, which disqualifies it its use as the basic market model directly. More specifically, the abstract model needs to be redefined given the unique features of medical care demand. Therefore, MGM inherits some unimprovable difficulties which constrain its usefulness in both pedagogy and policy analysis, which suggests that the MGM demands a critical review and reformulation. Journal: Int. J. of Pluralism and Economics Education Pages: 158-175 Issue: 2 Volume: 13 Year: 2022 Keywords: health economics; healthcare; Michael Grossman model; MGM; demand for good health; microeconomics; economics pedagogy. File-URL: http://www.inderscience.com/link.php?id=127216 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:2:p:158-175 Template-Type: ReDIF-Article 1.0 Author-Name: Muhammad Sholihin Author-X-Name-First: Muhammad Author-X-Name-Last: Sholihin Author-Name: Arqom Kuswanjono Author-X-Name-First: Arqom Author-X-Name-Last: Kuswanjono Title: The transformational paradigm: a way forward for Islamic economic axiology Abstract: Despite the recent (and vigorous) debate on the methodology of Islamic economics, its axiology has not been seriously discussed. In this regard, this study reviews the axiology of Islamic economics introduced by various paradigms in Islamic economics. We classify the axiology based on the oriented paradigm via a scoping review. As a critical response to the axiological classifications, this study highlights the weaknesses/criticisms and offers an alternative axiology within the framework of the transformational. Journal: Int. J. of Pluralism and Economics Education Pages: 209-228 Issue: 2 Volume: 13 Year: 2022 Keywords: axiology; Islamisation of economics; methodology; pluralism of Islamic economics; positivism; tawhidic paradigm; pluralism. File-URL: http://www.inderscience.com/link.php?id=127217 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:2:p:209-228 Template-Type: ReDIF-Article 1.0 Author-Name: T. Antony Alphonnse Ligori Author-X-Name-First: T. Antony Alphonnse Author-X-Name-Last: Ligori Author-Name: N. Suresh Author-X-Name-First: N. Author-X-Name-Last: Suresh Author-Name: Shad Ahmad Khan Author-X-Name-First: Shad Ahmad Author-X-Name-Last: Khan Author-Name: Tenzin Rabgay Author-X-Name-First: Tenzin Author-X-Name-Last: Rabgay Author-Name: Karma Yezer Author-X-Name-First: Karma Author-X-Name-Last: Yezer Title: The mediating effect of university image on the relationship between curriculum and student satisfaction: an empirical study of the Royal University of Bhutan Abstract: A college/university needs to retain quality teachers through retention policies, but to do so it must assure and maintain quality (both tangible and intangible) in order to provide quality education. This study measures the satisfaction level of students at the Royal University of Bhutan. The input variables are 'curriculum' and 'university image' and additionally, the study investigates the mediating effect of 'university image' between 'curriculum' and the level of 'student satisfaction. ' The results indicate a full mediation of university image between 'curriculum' and 'student satisfaction'. Our findings will facilitate the university (and other higher education institutions) to maintain curriculum quality while enhancing university image, ultimately leading to student satisfaction. Journal: Int. J. of Pluralism and Economics Education Pages: 192-208 Issue: 2 Volume: 13 Year: 2022 Keywords: curriculum; university image; structural equation model; student satisfaction; student satisfaction index; SSI; Royal University of Bhutan; Bhutan. File-URL: http://www.inderscience.com/link.php?id=127218 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:2:p:192-208 Template-Type: ReDIF-Article 1.0 Author-Name: Frederic B. Jennings Jr. Author-X-Name-First: Frederic B. Jennings Author-X-Name-Last: Jr. Title: Why pluralism Abstract: This paper makes a case for pluralism in academics, arguing that dogma is a pathological symptom of a model based on substitution applied in a setting characterised by complementary interactions, such as those in education, ecology or in all long-term economics. Our rational limits make all of our knowledge selective, focused and therefore also implacably blind to what is ignored, implying a case for multiple models since each provides some perspective on all left out of the others. The more ways we can think about something, the better our chance of fitting our frame to the case at hand. Here, we consider the issue in a historical context: the general use of substitution assumptions in economics stems from a claim about decreasing returns that does not pertain to long-run cases, which involve falling costs and therewith a generalised complementarity in economic relations. A use of competitive frames in complementary environments simply undermines output and effort, as well as shortens our planning horizons, creating a myopic culture in self-destruct mode. What is required in these situations is a shift to cooperation, which will open our minds to new vistas. Journal: Int. J. of Pluralism and Economics Education Pages: 127-137 Issue: 2 Volume: 13 Year: 2022 Keywords: pluralism; complementarity; cooperation; competition; substitution; planning horizons. File-URL: http://www.inderscience.com/link.php?id=127225 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijplur:v:13:y:2022:i:2:p:127-137