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economics, for a form of ‘political economy': economists should use theory to generalise what facts tell us rather than trying …
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As a student at the London School of Economics (LSE), Ronald Coase posed a seemingly naïve question that would, in time, fundamentally change the face of economics and earn him the Nobel Prize: ‘Why do firms exist?' The import of this simple question derived not only from the response Coase...
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The financial crisis has fuelled a heated debate about the responsibility of financial economists. Critics such as Paul … Krugman, Robert Shiller or David Colander argue that financial economists have developed useless or even harmful theories … insights from philosophy of science to clarify the responsibility of financial economists. Financial economists have to …
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