Rethinking Epistemology: Narratives in Economics as a Social Science


This research explores the incorporation of narrative perspectives in economics as a social science and its implications for rethinking epistemology. By examining the role of narratives in economic analysis, the study highlights the advantages of narratives in providing contextualized accounts of human experiences, connecting economic concepts to real-world phenomena, and exploring diverse perspectives. It emphasizes the importance of interdisciplinary collaboration between philosophers, economists, and social scientists to gain a comprehensive understanding of narratives' influence on economic decision-making, market dynamics, and consumer behavior. The research suggests that narratives offer a means to challenge the notion of a single, objective truth and contribute to a more inclusive and robust framework for analyzing economic phenomena. The implications extend beyond economics, urging a broader perspective on epistemology by embracing narrative perspectives and engaging in interdisciplinary collaboration across disciplines. Overall, this research calls for a rethinking of epistemology, recognising the significance of narratives and their role in knowledge production.



[1] Araway, D. J. 2009. Situated knowledge: The science question in feminism and the privilege of partial perspective. In The feminist standpoint theory reader (pp. 49-57). Routledge.
[2] Ariely, D., and Norton, M. I. 2011. Introduction: The allures and illusions of narratives in behavioral economics. Journal of Behavioral Decision Making, 24(4): 347-349. DOI: 10.1002/bdm.710.
[3] Barthes, R. 1977. Image, Music, Text. Fontana Press.
[4] Berger, P. L., and Luckmann, T. 1966. The social construction of reality: A treatise in the sociology of knowledge. Anchor Books.
[5] Bohman, J. 2012. Critical theory. In E. N. Zalta (Ed.), The Stanford encyclopedia of philosophy (Spring 2012 Edition). Stanford University.
[6] BonJour, L. 2010. Epistemology: Classic Problems and Contemporary Responses. Rowman & Littlefield Publishers.
[7] Bruner, J. S. 2004. Life as narrative. Social Research, 71(3): 691-710.
[8] Davidson, D. 2004. Inquiries into truth and interpretation. Oxford University Press.
[9] Davis, J. B. 2016. Theories of value and the construction of meaning. In Handbook of the Philosophy of Science (Vol. 13, pp. 153-177). Elsevier.
[10] Earl, P.E. 2005. Economics and Psychology in the twenty-first century. Cambridge Journal of Economics, 29(6): 909-926. Available at:
[11] Flyvbjerg, B. 2006. Five misunderstandings about case-study research. In C. Seale, G. Gobo, J. F. Gubrium, & D. Silverman (Eds.), Qualitative research practice (pp. 420-434). Sage.
[12] Fourcade, M. 2019. Economists and Societies: Discipline and Profession in the United States, Britain, and France, 1890s to 1990s. Princeton University Press.
[13] Fourcade-Gourinchas, M., and Babb, S. L. 2018. The rebirth of the liberal creed: Paths to neoliberalism in four countries. American Journal of Sociology, 123(5): 1475-1514.
[14] Fraser, N. 2009. Scales of justice: Reimagining political space in a globalizing world. Columbia University Press.
[15] Gadamer, H. G. 2004. Truth and method (2nd rev. ed.). Continuum.
[16] Habermas, J. 2009. Truth and justification. MIT Press.
[17] Hacking, I. 2002. Historical ontology. Harvard University Press.
[18] Harding, S. 2004. The feminist standpoint: Developing the ground for a specifically feminist historical materialism. In S. Harding (Ed.), The feminist standpoint theory reader: Intellectual and political controversies (pp. 51-60). Routledge.
[19] Hausman, D. M. 2017. Economic methodology: Understanding economics as a science. Cambridge University Press.
[20] Hirschman, A. O. 2002. The rhetoric of reaction: Perversity, futility, jeopardy. Harvard University Press.
[21] Holland, D., Lachicotte, W., Skinner, D., and Cain, C. 2001. Identity and agency in cultural worlds. Harvard University Press.
[22] Jackson, E.A. 2017. Economic Methodology: Paradox of Ceteris Paribus Law in the Context of Sierra Leone, Méthod(e)s: African Review of Social Sciences Methodology, 2(1-2): 31-40. DOI:
[23] Jackson, E.A. 2018. Theoretical and Methodological Context of (Post)-Modern Econometrics and Competing Philosophical Discourses for Policy Prescription. Journal of Heterodox Economics, 4(2): 119-129.
[24] Jackson, E.A. 2021. Pluralism as a Recommended Research Practice for Central Banks in Addressing Welfare Concerns on the Experience of COVID-19. Theoretical and Practical Research in the Economic Fields, 12(1): 13-20. DOI:
[25] Kahneman, D. 2011. Thinking, fast and slow. Farrar, Straus and Giroux.
[26] Kahneman, D., and Tversky, A. 1982. The psychology of preferences. Scientific American, 246(1): 160-173. DOI: 10.1038/scientificamerican0182-160
[27] Klein, P. 2015. Epistemology. Routledge.
[28] Lawson, T. 2009. Reorienting economics. Routledge.
[29] Lemos, N. 2007. An Introduction to the Theory of Knowledge. Cambridge University Press.
[30] Lyotard, J. F. 1984. The postmodern condition: A report on knowledge. University of Minnesota Press.
[31] Mäki, U. 2018. Philosophy and methodology of economics. The Stanford Encyclopedia of Philosophy. Retrieved from
[32] Matravers, D. 2014. Narrative and Belief. Oxford University Press: United Kingdom.
[33] McCloskey, D. N. 2016. Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World. University of Chicago Press. RWI - Leibniz-Institut für Wirtschaftsforschung, Essen. DOI:
[34] McCloskey, D. N. 2019. Why narrative? Explaining the world. Oxford University Press.
[35] Nussbaum, M. C. 2010. Not for profit: Why democracy needs the humanities. Princeton University Press.
[36] Polkinghorne, D. E. 2005. Language and meaning: Data collection in qualitative research. Journal of Counseling Psychology, 52(2): 137-145.
[37] Ricoeur, P. 1984. Time and Narrative, Vol. 1. University of Chicago Press.
[38] Roos, M.W.M., & Matthias, R. 2021. Narratives in economics, Ruhr Economic Papers, No. 922.
[39] Rorty, R. 2009). Philosophy as cultural politics: Philosophical papers, Volume 4. Cambridge University Press.
[40] Shiller, R.J. 2019). Narrative Economics: How Studies Go Viral & Drive Major Economic Events. Princeton University Press: USA.
[41] Stanford Encyclopedia of Philosophy. (2018). Epistemology. Available at:
How to Cite
JACKSON, Emerson Abraham. Rethinking Epistemology: Narratives in Economics as a Social Science. Theoretical and Practical Research in Economic Fields, [S.l.], v. 14, n. 1, p. 164 - 174, june 2023. ISSN 2068-7710. Available at: <>. Date accessed: 01 oct. 2023. doi: