Social Ontology and Model-Building: A Response to Epstein

Abstract

Brian Epstein has recently argued that a thoroughly microfoundationalist approach towards economics is unconvincing for metaphysical reasons. Generally, Epstein argues that for an improvement in the methodology of social science we must adopt social ontology as the foundation of social sciences; that is, the standing microfoundationalist debate could be solved by fixing economics’ ontology. However, as I show in this paper, fixing the social ontology prior to the process of model construction is optional instead of necessary and that metaphysical-ontological commitments are often the outcome of model construction, not its starting point. By focusing on the practice of modeling in economics the paper provides a useful inroad into the debate about the role of metaphysics in the natural and social sciences more generally.