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This article offers a critical presentation of Critical Realism in economics. Stemming mainly from Tony Lawson’s works, critical realism can be broken down into two parts: the elaboration of an ontological critique of mainstream economics and the development of a social ontology. The article presents first both of these aspects, and then assesses them critically. Though the attack on the mainstream is not entirely convincing, it is shown that the social ontology of critical realism could provide a useful support for research from an institutionalist point of view.