Economics rules
why economics works, when it fails, and how to tell the difference
- ISBN: 9780198736905
- Editorial: Oxford University Press
- Fecha de la edición: 2017
- Lugar de la edición: Oxford. Reino Unido
- Encuadernación: Rústica
- Medidas: 21 cm
- Nº Pág.: 239
- Idiomas: Inglés
The economics profession has become a favourite punching bag in the aftermath of the global financial crisis. Economists are widely reviled and their influence derided by the general public. Yet their services have never been in greater demand. To unravel the paradox, we need to understand both the strengths and weaknesses of economics. Dani Rodrik argues that the multiplicity of theoretical frameworks - what economists call 'models' that exist side by side is economics' great strength. Economists are trained to hold diverse, possibly contradictory models of the world in their minds. This is what allows them, when they do their job right, to comprehend the world, make useful suggestions for improving it, and to advance their stock of knowledge over time. In short, it is what makes economics a 'science' a different kind of science from physics or some other natural sciences, but a science nonetheless. But syncretism is not a comfortable state of mind, and economists often jettison it for misplaced confidence and arrogance, especially when they confront questions of public policy.
