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The renowned institutionalist Geoffrey Hodgson has claimed inter alia that heterodox economics has failed to define its nature and scope, does not take pluralism seriously, and lacks expertise concentration to ensure quality which means it has made limited progress and is held in variable...
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The emergence of novelty is a driving agent for economic change. New technologies, new products and services, new … emergence of novelty is not well understood. What seems to be clear, however, is that it implies "bounds of unknowledge … be examined, possibilities for positively theorizing about novelty will be explored, and the methodological consequences …
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In this book the author develops a new approach to uncertainty in economics, which calls for a fundamental change in the methodology of economics. It provides a comprehensive overview and critical appraisal of the economic theory of uncertainty and shows that uncertainty was originally...
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