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Economic Ideas You Should Forget (Paperback, 1st ed. 2017)
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Economic Ideas You Should Forget (Paperback, 1st ed. 2017)
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Reporting on cutting-edge advances in economics, this book presents
a selection of commentaries that reveal the weaknesses of several
core economics concepts. Economics is a vigorous and progressive
science, which does not lose its force when particular parts of its
theory are empirically invalidated; instead, they contribute to the
accumulation of knowledge. By discussing problematic theoretical
assumptions and drawing on the latest empirical research, the
authors question specific hypotheses and reject major economic
ideas from the "Coase Theorem" to "Say's Law" and "Bayesianism."
Many of these ideas remain prominent among politicians, economists
and the general public. Yet, in the light of the financial crisis,
they have lost both their relevance and supporting empirical
evidence. This fascinating and thought-provoking collection of 71
short essays written by respected economists and social scientists
from all over the world will appeal to anyone interested in
scientific progress and the further development of economics.
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