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Recently, economics, both as a science and as a profession, has fallen under scrutiny by authors from various fields. A … common theme in the critical literature is the idea that economics has morally lost its way and must be reformed. Each of the … books discussed in this review studies perceived problems with economics: in economic theory, policy, and in the economics …
Persistent link: https://www.econbiz.de/10014142331
Every Economics textbook today teaches that questions of values and morality lie outside of, are in fact excluded from …, the field of Economics and its proper domain of study, "the economy." Yet the dominant cultural and media narrative in … paradox by which Economics seems to have both everything and nothing to do with values? The discipline of modern economics …
Persistent link: https://www.econbiz.de/10012431178
Persistent link: https://www.econbiz.de/10011779023
Persistent link: https://www.econbiz.de/10014248176
The current crisis has triggered significant debate concerning economic theory and policy. Largely absent from this debate is an informed discussion of the methods used by economists in analysing the economy and formulating their proposals. But method matters. Here I argue that current academic...
Persistent link: https://www.econbiz.de/10013152281
Most economists take it for granted that a price mechanism is usually the most effective means of resource allocation. This paper compares two methods of allocating resources in the thoroughbred racing market: a price mechanism and bureaucratic restrictions. It is shown that a simple price...
Persistent link: https://www.econbiz.de/10012786653
Most economists take it for granted that a price mechanism is usually the most effective means of resource allocation. This paper compares two methods of allocating resources in the thoroughbred racing market: a price mechanism and bureaucratic restrictions. It is shown that a simple price...
Persistent link: https://www.econbiz.de/10012740121
We examine the dynamics of a country’s growth, consumption, and sovereign debt, assuming that the government is myopic and wants to maximize short-term, self-interested spending. Surprisingly, government myopia can increase a country’s access to external borrowing. In turn, access to...
Persistent link: https://www.econbiz.de/10014078840
We examine the dynamics of a country's growth, consumption, and sovereign debt, assuming that the government is myopic and wants to maximize short-term, self-interested spending. Surprisingly, government myopia can increase a country's access to external borrowing. In turn, access to borrowing...
Persistent link: https://www.econbiz.de/10013334513
Persistent link: https://www.econbiz.de/10008730346