The argument in favor of bringing back to the forefront the economic thought of J.M. Keynes, developed in this book, aims to restore the damaged status of economic science after the successive failures and shortcomings caused by the dominant neoclassical school in its attempt to make it equivalent to physics.
The key points that need to be considered to achieve the desired restoration are as follows:
1. Economists of the dominant school believe that they have precise and solid answers to everything. They construct models and theories claiming that they can calculate and predict the future, while this is not the case.
2. The childish and excessive faith that mathematics can provide answers to significant economic problems must be called into question. Mathematics gives precise answers to precise questions. However, the important and interesting questions posed in economic reality are not of that kind.
3. There is a prevailing view that there are general ahistorical laws governing economic activity. Unfortunately or fortunately, the most we can hope for in the real economy is the formulation of trends with varying degrees of generality.
4. Economists must stop behaving arrogantly towards other social sciences. Fundamental economic assumptions arise from them (psychology, sociology, etc.).
5. Additionally, there is a need to stop constructing macro-models based on unrealistic microfoundations.
Manufacturer
Specifications
- Author
- Kostas I. Melas
- Publisher
- Ekdotikos Oikos A. A. Livani
- Language
- Greek
- Subtitle
- A short reference to his life and thought
- Cover
- Soft
- Number of Pages
- 174
- Release Date
- 2/2019
- Publication Date
- 2019
- Dimensions
- 14x20.5 cm
- ISBN-13
- 9789601433950
Book Type
- Diversity, Equity & Inclusion (DEI)
- No
Important information
Specifications are collected from official manufacturer websites. Please verify the specifications before proceeding with your final purchase. If you notice any problem you can report it here.