Economics, realism and reality: a comparison of Mäki and Lawson

There is presently considerable debate about the application and interpretation of realism in economics. Interest in this area of the philosophy and methodology of economics has intensified over the last twenty years, especially owing to the substantial contributions by Uskali Mäki and Tony Lawson, respectively. Although their work falls under the same banner of realism in economics, their projects differ significantly in many important respects. This review tries to clarify the contrasting approaches of each author and explains the main reasons for the differences between them. The emphasis is on clarification of their respective positions rather than a comprehensive critical evaluation as such.