Page 190 - MODES of EXPLANATION

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I have made the case that economic explanations are in fact mechanistic in that they
are based on the complex psychological and social mechanisms I have described.
Explanations are not mechanistic at the level of the abstract economy, but if you are
addressing what is going on in the minds of individuals and paying attention to how cognition
and emotion operate, then you can develop some reasonable explanations of economic
change. Furthermore, the ideas of animal spirits and reflexivity that economists have used in
order to get beyond the empirical inadequacy of mainstream economics can be spelled out by
looking at the mechanisms of emotional coherence and social communication.
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