In this paper we invoke Wittgenstein's later philosophy to facilitate a number of methodological reflections on Paul Davidson's concept of transmutability. We argue that, while Davidson addresses the economic implications arising from his distinction between immutable and transmutable theories...

This paper examines Nicholas Kaldor's methodological critique of orthodox economic theory in the light of recent developments in the philosophy of science. T. Lawson (1989) has provided the most philosophically sophisticated interpretation of Kaldor's methodological work available to date from a...

This paper revisits Kaldor's methodological critique of orthodox economics. The main target of his critique was the theory of general equilibrium as expounded in the work of Debreu and others. Kaldor deemed this theory to be seriously flawed as an empirically adequate description of real-world...