The Plurality of Economic Classifications

Toward a New Strategy for Their Investigation

Abstract

The standard strategy involves evaluating whether economic classifications meet criteria derived from a general theory of natural kinds. The first objective of this article is to show the implementation of this strategy by various relevant authors. We argue that the standard strategy has failed due to its lack of a greater sensitivity to the role played by human interests in the design of different types of natural kinds. The second objective is to outline a new strategy for investigating economic classifications. Our departure from the standard strategy can be described as a shift from assessing economic classifications based on general theories of natural kinds to examining specific cases with the aim of theorizing about their design and application. The cases of the cost-of-living index and race are used to succinctly discuss the objectivity of economic classifications and implications for the relationship between science and democracy.