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The Path to a Modern Economics - Dealing with the Complexity of Economic Systems (Hardcover, 1st ed. 2017)
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The Path to a Modern Economics - Dealing with the Complexity of Economic Systems (Hardcover, 1st ed. 2017)
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This book illustrates how the treatment of complexity in analytical
frameworks shapes economic studies. It explores the ways economists
make sense of our economic environment and where their differences
in interpretations of economic issues and policy proposals are
rooted. Schwardt examines developments in economies and the role of
the public sector over the last few centuries. Taking a theoretical
approach and addressing different analytical frameworks, a basic
distinction is introduced between top-down approaches, where
assumptions about the economic environment are formulated at the
outset; and bottom-up approaches, where an economic environment
emerges from the interactions of the individual agents. By
recognising the validity of alternate perspectives on economic
issues, Schwardt proposes an improved foundation for economics
research and policy.
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