Should we accept the principles of neoclassical economics? The Principles of Economics attempts to develop effective critiques of neoclassical economics and it is primarily directed towards the neoclassical economist. The focus of the critiques are the foundations of neoclassical theory, beginning with those Marshall identified as the principles of economics. Paramount amongst these is the assumption of maximizing behaviour. This has proved a common target for criticism but a lot of this has been surprisingly unsuccessful. Lawrence Boland highlights the problems of effective model building...

Should we accept the principles of neo-classical economics? This work attempts to develop effective critiques of neo-classical economics and it is primarily directed towards the neo-classical economist. The focus of the critiques are the foundations of neo-classical theory, beginning with those Alfred Marshall identified as the Principles of Economics, paramount amongst which is the assumption of maximizing behaviour. Lawrence Boland highlights the problems of effective model building without this assumption and argues that critics might be better rewarded if they concentrated on Marshall's...

Taking issue with both economic methodologists and practicing economists, the author argues both that there has been too much 'methodology for methodology's sake' and that mainstream economics might benefit by using it.

Many consider Foundations of Economic Method to be Lawrence Boland's best work. This updated edition is radically changed from the original and will be much appreciated by thinkers within economics. The book positions methodology vis-a-vis the current practice of economists and is all the better for it. Yet another book that not only deserves to be read by those within the field of economic methodology, but also by those involved in economics at all. Boland is back."

Many consider Foundations of Economic Method to be Lawrence Boland's best work. This updated edition is radically changed from the original and will be much appreciated by thinkers within economics. The book positions methodology vis-a-vis the current practice of economists and is all the better for it. Yet another book that not only deserves to be read by those within the field of economic methodology, but also by those involved in economics at all. Boland is back.

The major methodological task for modern economists has been to establish the testability of models. Too often, however, methodological assumptions can make a model virtually impossible to test even under ideal conditions, yet few theorists have examined the requirements and problems of assuring testability in economics. In this book, first published in 1989, Lawrence Boland presents the results of a research project that spanned more than twenty years. He examines how economists have applied the philosophy of Karl Popper, relating methodological debates about falsifiability to wider...

First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past thirty years can be understood as ad hoc attempts to overcome the deficiencies of such models in the absence of cogent stability analyses. In conclusion, he explains the need to...

Concern about the role and the limits of modeling has heightened after repeated questions were raised regarding the dependability and suitability of the models that were used in the run-up to the 2008 financial crash. In this book, Lawrence Boland provides an overview of the practices of and the problems faced by model builders to explain the nature of models, the modeling process, and the possibility for and nature of their testing. In a reflective manner, the author raises serious questions about the assumptions and judgments that model builders make in constructing models. In making his...

The concept of equilibrium is fundamental to economic theory, according to which, it exists when supply and demand are balanced. Equilibrium Models in Economics critically examines the major problematic assumptions employed to build equilibrium models. It gives particular attention to the assumptions used to characterize learning, knowledge and expectations.
Lawrence Boland here explores whether equilibrium models can provide a realistic explanation of economic events and objects such as prices, market demands and market supplies. He traces how the different perspectives on...

The concept of equilibrium is fundamental to economic theory, according to which, it exists when supply and demand are balanced. Equilibrium Models in Economics critically examines the major problematic assumptions employed to build equilibrium models. It gives particular attention to the assumptions used to characterize learning, knowledge and expectations.
Lawrence Boland here explores whether equilibrium models can provide a realistic explanation of economic events and objects such as prices, market demands and market supplies. He traces how the different perspectives on...