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Uneconomic Economics and the Crisis of the Model World [electronic resource] / by M. Watson.

By: Contributor(s): Material type: TextTextSeries: Building a Sustainable Political Economy: SPERI Research & PolicyPublisher: London : Palgrave Macmillan UK : Imprint: Palgrave Pivot, 2014Edition: 1st ed. 2014Description: X, 108 p. online resourceContent type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781137385499
Subject(s): Additional physical formats: Printed edition:: No title; Printed edition:: No title; Printed edition:: No titleDDC classification:
  • 338.9
LOC classification:
  • JA77
Online resources: In: Springer Nature eBookSummary: 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.
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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.

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