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We suggest that one way in which economic analysis is useful is by offering a critique of reasoning. According to this view, economic theory may be useful not only by providing predictions, but also by pointing out weaknesses of arguments. It is argued that, when a theory requires a non-trivial...
Persistent link: https://www.econbiz.de/10012969933
We suggest that one way in which economic analysis is useful is by offering a critique of reasoning. According to this view, economic theory may be useful not only by providing predictions, but also by pointing out weaknesses of arguments. It is argued that, when a theory requires a non-trivial...
Persistent link: https://www.econbiz.de/10013005923
The Great Recession and the financial crisis of 2007-09 prompted ca lls for fundamental reforms of economic theory. The role of theory in economics and in recent economic events is considered in light of two recen t books: the sociologist Richard Swedberg's The Art of Social Theory and the...
Persistent link: https://www.econbiz.de/10011600520
The Great Recession and the financial crisis of 2007-09 prompted calls for fundamental reforms of economic theory. The role of theory in economics and in recent economic events is considered in light of two recent books: the sociologist Richard Swedberg's "The Art of Social Theory" and the...
Persistent link: https://www.econbiz.de/10013003038
The article analyses the role of economists in public discourse with regard to the financial crisis. Specifically, it … focuses on the prevailing rhetorical strategies and the economic convictions of leading German-speaking economists as they …-speaking economists. The observed stability of the dominant paradigm is attributed primarily to the very stable role of certain basic …
Persistent link: https://www.econbiz.de/10011777687
crises-related topics. Overall, our findings are consistent with the claim that economists were not engaged sufficiently in … NBER affiliated economists responded dramatically by switching their focus and efforts to studying and understanding the … crisis, its causes and its consequences. Thus, although economists were slow to see the crisis coming, they were fast to act …
Persistent link: https://www.econbiz.de/10012840878
In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...
Persistent link: https://www.econbiz.de/10009524338