Economics: Pluralism in Times of Fragmentation, and the Chances of Polycentrism

Due to the ‘applied turn’ and the transformative impact of other sciences on the discipline, and the resulting launch of new research programs, economics is arguably becoming an increasingly fragmented field. While the literature focuses on the epistemological consequences of this new plurality of approaches, we concentrate on issues broadly related to the governance of economics in this context of fragmentation. We develop a philosophy-of-science theoretical framework to distinguish between two opposing scenarios: ‘fragmented’ (where scholars work in different fields with minimal communication) and ‘engaged’ pluralism (characterized by debate and exchange among distinct approaches). We finally reflect on the general logic and some specific factors that may promote the latter.