On the Role of Paradigms in Finance

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Social theory can usefully be conceived in terms of four key paradigms: functionalist, interpretive, radical humanist and radical structuralist. Finance theory is based on the functionalist paradigm and for the most part finance theorists are unaware of the philosophical tradition to which they belong. By offering an overview of the four paradigms, Ardalan's work offers a concise understanding of the multifaceted nature of finance.