Effective field theories have been a very popular tool in quantum physics f
or almost two decades. And there are good reasons for this. I will argue th
at effective field theories share many of the advantages of both fundamenta
l theories and phenomenological models, while avoiding their respective sho
rtcomings. They are, for example, flexible enough to cover a wide range of
phenomena, and concrete enough to provide a detailed story of the specific
mechanisms at work at a given energy scale. So will all of physics eventual
ly converge on effective field theories? This paper argues that good scient
ific research can be characterised by a fruitful interaction between fundam
ental theories, phenomenological models and effective field theories. All o
f them have their appropriate functions in the research process, and all of
them are indispensable. They complement each other and hang together in a
coherent way which I shall characterise in some detail. To illustrate all t
his I will present a case study from nuclear and particle physics. The resu
lting view about scientific theorising is inherently pluralistic, and has i
mplications for the debates about reductionism and scientific explanation.
(C) 2001 Elsevier Science Ltd. All rights reserved.