Mariusz Maziarz - 'Growth in a Time of Debt' as an example of the logical-positivist science

jpe:10700 - Journal of Philosophical Economics, May 19, 2017, Volume X Issue 2 -
'Growth in a Time of Debt' as an example of the logical-positivist scienceArticle

Authors: Mariusz Maziarz 1

  • 1 Wroclaw University of Economics

The paper addresses the question whether the now- infamous piece of econometric research conducted by Reinhart and Rogoff (2010) that set the threshold hypothesis in the relation between public debt and economic growth was conducted in accordance with the neopositivist doctrine. The article consists of two parts. First, the epistemic advice given by logical positivism is reconstructed and operationalized. Second, the cliometric method employed by Reinhart and Rogoff (2010) is analyzed. The answer to the research question is affirmative. ‘Growth in a Time of Debt’ is a piece of logical-positivist science because (1) the research is data-based and aimed at confirming the results, (2) its authors are committed to the neopositivist theory-observation distinction, (3) its goal is describing an empirical generalization and the result’s interpretations suggest that (4) Reinhart and Rogoff (2010) understand causality in a reductionist way, as a constant conjunction.

Volume: Volume X Issue 2
Section: Articles
Published on: May 19, 2017
Imported on: December 28, 2022
Keywords: Reinhart-Rogoff,logical positivism,methodology,causality,economics,[SHS]Humanities and Social Sciences

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