Abstract

This paper argues that both aspects of the principle of uniformity, namely, substantive uniformitarianism or the statement that the rates of change of processes are constant through time, and methodological uniformitarianism or the more general assertion that the laws governing phenomena are invariant over time and across space, have no place in economic explanation because they preclude the consideration of significant components of economic reality. In particular, cultural differences are likely to cause economic laws to vary across space, and the realities of historical time are likely to render both economic laws and rates of change nonconstant through time.