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Bad for practice – good for practice from economic imperialism to multidisciplinary mapping


Osterloh, Margit; Frost, Jetta (2009). Bad for practice – good for practice from economic imperialism to multidisciplinary mapping. Journal of International Business Ethics, 2(1):36-45.

Abstract

There is a growing debate about economics not only being bad for practice but also destroying good management practice. The focus of this debate has been on the negative influences of wrong assumptions in theory building which become a self-fulfilling prophecy. We analyze why standard
economics indeed can be bad for managerial and political practice. Aside from wrong assumptions, economic imperialism is another important factor. We argue that psychological economics is better for practice than standard economics, but is still not good for practice, as long as it uses an imperialistic approach. We propose a different research strategy, which we call multidisciplinary mapping. It not only bridges between different disciplinary approaches but also between the knowledge of scholars and practitioners. It is good for practice as well as for theory building.

Abstract

There is a growing debate about economics not only being bad for practice but also destroying good management practice. The focus of this debate has been on the negative influences of wrong assumptions in theory building which become a self-fulfilling prophecy. We analyze why standard
economics indeed can be bad for managerial and political practice. Aside from wrong assumptions, economic imperialism is another important factor. We argue that psychological economics is better for practice than standard economics, but is still not good for practice, as long as it uses an imperialistic approach. We propose a different research strategy, which we call multidisciplinary mapping. It not only bridges between different disciplinary approaches but also between the knowledge of scholars and practitioners. It is good for practice as well as for theory building.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Uncontrolled Keywords:economics, psychological economics, multidisciplinary mapping, maps, management practice, theory
Language:English
Date:2009
Deposited On:08 Feb 2010 11:16
Last Modified:21 Nov 2017 14:41
Publisher:The American Scholars Press
ISSN:1940-1485
Official URL:http://www.americanscholarspress.com/content/abstract4_v2_n1_09.html
Related URLs:http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1295303

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