Economics Rules
Oxford University Press,
Dani (Ford Foundation Professor of International Political Economy at the John F. Kennedy School of Government,
Harvard University) Rodrik
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Krátky popis
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 ofscience 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.Economists are prone to
fads and fashions, and behave too often as if their discipline is
about the search for the model that works always and everywhere,
rather than a portfolio of models. Their training lets them down
when it comes to navigating among diverse models and figuring out
which one applieswhere. Ideology and political preferences
frequently substitute for analysis in choosing among models.So the
book offers both a defence and critique of economics. Economists'
way of thinking about social phenomena has great advantages. But
the flexible, contextual nature of economics is also its Achilles'
heel in the hands of clumsy practitioners.
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Oxford University Press ,
Dani (Ford Foundation Professor of International Political Economy at the John F. Kennedy School of Government ,
Harvard University) Rodrik
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Oxford University Press,
Dani (Ford Foundation Professor of International Political Economy at the John F. Kennedy School of Government,
Harvard University) Rodrik
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Oxford
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Oxford
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