"This paper is a non-technical and somewhat philosophical essay, that seeks to investigate the relationship between economics and reality. More precisely, it asks how reality in the form empirical evidence does or does not influence economic thinking and theory. In particular, which role do...

Demonstrates how ideas in economics have shaped business decisions and models, as well as government policies. Discusses the pace of future innovation, how economists think about the world, and the role and importance of markets and their limits.