Uneconomic Economics and the Crisis of the Model World |
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| Author:
| Watson, M. |
| Series title: | Building a Sustainable Political Economy: SPERI Research and Policy Ser. |
| ISBN: | 978-1-349-48126-2 |
| Publication Date: | Jan 2014 |
| Publisher: | Palgrave Macmillan Limited
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| Imprint: | Palgrave Pivot |
| Book Format: | Paperback |
| List Price: | USD $70.00 |
Book Description:
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What has gone wrong with economics? Economists now routinely devise highly sophisticated abstract models that score top marks for theoretical rigour but are clearly divorced from observable activities in the current economy. This creates an 'uneconomic economics', where models explain relationships in blackboard rather than real-life markets.
What has gone wrong with economics? Economists now routinely devise highly sophisticated abstract models that score top marks for theoretical rigour but are clearly divorced from observable activities in the current economy. This creates an 'uneconomic economics', where models explain relationships in blackboard rather than real-life markets.