Contextual Economics
An "isolating" economy, which extracts economic processes from the social, political and cultural context in the interest of the applicability of certain formal methods, runs the risk of not adequately capturing all aspects of economic reality. It needs to be complemented by a socio-economic, contextual perspective. The main objective of the Chair's research is to relate economies to their social environment and to focus on the interactions between the economic system and other social subsystems. Institutional approaches seem to us to be particularly suited to achieve this. Furthermore, we consider the tradition of thinking in the field of regulatory economics and the concept of the social market economy to be highly compatible with contextual approaches in economics. The inclusion of social, cultural and normative factors in the analysis of economic processes, as practiced in both traditional and modern regulatory economics, can be seen as an important precursor of contextual economics. Furthermore, we see a great importance of research in the history of theory in order to better understand the context in which economic ideas are developed.
Further information on contextual economics can be found in:
-
Nils Goldschmidt, Erik Grimmer-Solem und Joachim Zweynert (2016): On the purpose and aims of the journal of contextual economics, in: Schmollers Jahrbuch. Journal of Contextual Economics (2016) 136,1, 1–14.
-
Joachim Zweynert, Stefan Kolev und Nils Goldschmidt (2016): Neue Ordnungsökonomik. Zur Aktualität eines kontextualen Forschungsprogramms, in: Zweynert, Joachim, Kolev, Stefan und Goldschmidt, Nils (Hrsg.): Neue Ordnungsökonomik (= Untersuchungen zur Ordnungstheorie und Ordnungspolitik 69), Tübingen: Mohr Siebeck 2016, 1–17.