TL;DR: Flyvbjerg's book as discussed by the authors is a thoughtful antidote to the simple views that see social science as a science like any other-positivistic science, and it is a well-grounded empirical case of the development and application of expert knowledge, then moves through consideration of context and values and a reconsideration of the Greek roots of modern knowledge.
Abstract: This book is a thoughtful antidote to the simple views that see social science as a science like any other-positivistic science. It begins with a well-grounded empirical case of the development and application of expert knowledge, then moves through consideration of context and values, the centrality of power, and a reconsideration of the Greek roots of modern knowledge. It concludes with some salient observations based on the author's own feedback and research practice. Making Social Science Matter: Why Social Inquiry Fails and How it Can Succeed Again. Bent Flyvbjerg: Cambridge: Cambridge University Press, 205 Pages. INTRODUCTION "Physics envy" is one of those phrases that, as an apprentice social scientist, I wished I had heard about 30 years ago. I was studying for a doctorate degree then, a process in which much musing was centered on some central issues in the philosophy of social science. In the texts that I read and the debates that I encountered there was a lot of it about physics envy, that is. What was in short supply was much to make one feel confident as a social science researcher. Instead, rather like a character in a Beckett play, one was waiting for a character-the great deliverer of a truly social science-that never shows up. So I had to write a thesis regardless. Of course, there were various sightings that raised anticipations in different audiences, at different times: some barracked for Parsons, others for Marx, as a great unifier while others just got on with it and didn't think too much about what "it" might mean. They just did it. How they did it seemed to be based on an assumption that, while social science isn't physics, it does have some formal similarities. It has hypotheses; it contains propositions; and, maybe, some covering law-like explanations. (One colleague claims that the universal relationship between the size of organizations and their increasing need for centralization is such a relation.) If only Bent Flyvbjerg's book had been available then! BEYOND THE SCIENCE WARS The author begins with the hoax played by the physicist, Alan Sokal, one of the editors of the journal Social Text. Most people probably know about it. Sokal (1996) submitted an article that appeared to "deconstruct" physics and the editors accepted and published it. Thus was the latest salvo in the debate about the "two cultures" fired across the bows of the global social science community. The implications were clear: for bona fide-not to say macho-"real" scientists, social science is unreal and unnatural: simplistic in its assumptions, short on quality controls, and peopled by beings of lesser judgment, if not intelligence, than those to be found in the Natural Science Faculties. Flyvbjerg (page 3) is quite explicit about the implications of such warfare: "Social science is locked in a fight that it cannot hope to win, because it has accepted terms that are self-defeating." What is to be done to change these terms and avoid defeat? Go back to Aristotle and start over again, says Flyvbjerg. Eschew Aristotle's path to knowledge that routes through the virtues of either techne or episteme and instead use Aristotle's account of a prudent and wise science-one founded on phonesis-and integrate it with a Foucauldian conception of power. The route to Aristotle turns out to be quite contemporary-it works through the phenomenology of human learning in the light of the Dreyfus and Dreyfus (1986) model. This is the model that demonstrates that expert learning goes far beyond knowing and using the rules to accomplish an activity. Indeed, such explicit knowledge and referral is, in fact, counter to expertise that seems to rely on tacit knowledge and intuition embedded in context much more than it does on explicit and disembedded knowledge. Physics envy is closely related to Cartesian anxiety-the fear of nihilism and relativism that lies outside the borders of a strict analytical and rational scientific tradition. …
TL;DR: The history of physics envy can be found in this paper, where the authors discuss the history of the energy concept and its relationship with the field theory of value in political economy, and the corruption of the field theories of value and the retrogression to substance theories of values.
Abstract: List of figures List of tables Epigraph Acknowledgments Dedication 1. The fearful spheres of Pascal and Parmenides 2. Everything an economist needs to know about physics but was probably afraid to ask: the history of the energy concept 3. Body, motions and value 4. Science and substance theories of value in political economy to 1870 5. Neoclassical economics: an irresistible field of force meets an immovable object 6. The corruption of the field theory of value, and the retrogression to substance theories of value: neoclassical production theory 7. The ironies of physics envy 8. Universal history is the story of different intonations given to a handful of metaphors.
TL;DR: In this paper, the authors make several recommendations for research methods for an entrepreneurship paradigm, such as less physics envy, focusing on the research as a whole through case studies, fewer theoretical models and more empirical models.
Abstract: Entrepreneurship research is still developing as a management science. This is especially visible when entrepreneurship research is compared to the disciplines from which it emerged, and it needs to develop its own methods and theories. Entrepreneurship research uses concepts garnered from diverse disciplines, which requires consideration of the central questions and the appropriate tools with which to study them. Several recommendations for research methods for an entrepreneurship paradigm are made: (1) less physics envy - avoid reductionism in entrepreneurship research and focus on the research as a whole through case studies; (2) fewer theoretical models and more empirical models - the present empirical knowledge of entrepreneurship research is inadequate for building robust theories; (3) less concern with sophisticated statistical analyses - entrepreneurial ventures begin with unique events and understanding them is one of the aims of entrepreneurship research. No amount of complex statistical analysis will substitute for field studies of the unique events; (4) more field research - entrepreneurship research will not get to the heart of the startup process unless it observed happening in the field; (5) more longitudinal studies - entrepreneurship is a process that evolves with time and doing only cross-sectional studies would cause much of the richness that comes from longitudinal studies to be lost; (6) dedicated researchers - better quality empirical research is needed that is exploratory or grounded and to achieve this more researchers are needed; (7) original field-derived data bases - it is difficult to do valid research on data bases that others have built since there may be unknown pitfalls, therefore entrepreneurship research should create its own data sets built from raw data; and (8) less obsession with revolutionary science - it is better to stress excellence in research, rather than glorifying extraordinary science and depreciating ordinary science. Excellent routine science is often more valuable than revolutionary science. (SFL)
TL;DR: In this article, the authors describe the way a system to change the way the world works and the way it could be changed by using complexity, adaptive strategies, and adaptive strategies.
Abstract: Preface: Globalization, Development, and Complexity PART 1: THE WAY AID WORKS 1. A System to Change 'The System'? 2. Thinking Inside the Box 3. Strategic Mismanagement 4. The Goats in the Machine 5. Watching the Watchmen 6. Part 1 Epilogue-The Trouble with Physics Envy PART 2: THE WAY THE WORLD WORKS 7. Introducing Complexity 8. More Than, and Different To, The Parts 9. The Madness of Men 10. Falling Off Cliffs 11. The Devil is in the Dynamics 12. Part 2 Epilogue--What Lies Between Order and Chaos? PART 3: THE WAY AID COULD WORK 13. From Bali, with Complexity 14. Systemic Learning 15. Adaptive Strategies 16. Networked Organizations 17. Dynamic Change 18. Part 3 Epilogue--Beyond Panaceas 19. Aid on the Edge of Chaos
TL;DR: In this article, a taxonomy of uncertainty for economic behavior is proposed, and the authors illustrate the relevance of this taxonomy with two concrete examples: the classical harmonic oscillator with some new twists that make physics look more like economics and a quantitative equity market-neutral strategy.
Abstract: The quantitative aspirations of economists and financial analysts have for many years been based on the belief that it should be possible to build models of economic systems - and financial markets in particular - that are as predictive as those in physics. While this perspective has led to a number of important breakthroughs in economics, physics envy has also created a false sense of mathematical precision in some cases. We speculate on the origins of physics envy, and then describe an alternate perspective of economic behavior based on a new taxonomy of uncertainty. We illustrate the relevance of this taxonomy with two concrete examples: the classical harmonic oscillator with some new twists that make physics look more like economics, and a quantitative equity market-neutral strategy. We conclude by offering a new interpretation of tail events, proposing an uncertainty checklist with which our taxonomy can be implemented, and considering the role that quants played in the current financial crisis.