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Uneconomic Economics and the Crisis of the Model World
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Building a Sustainable Political Economy: SPERI Research & Policy
Uneconomic Economics and the Crisis of the Model World
M. Watson
Political Science / International Relations / Trade & Tariffs
What has gone wrong with economics? Economists now routinely devise highly sophisticated abstract models that score top marks for theoretical rigour but are clearly divorced from observable activities in the current economy. This creates an 'uneconomic economics', where models explain relationships in blackboard rather than real-life markets.
Matthew Watson is Professor of Political Economy in the Department of Politics and International Studies at the University of Warwick, UK. Since 2013 he is also an ESRC Professorial Fellow working on the project 'Rethinking the Market'. In his research he applies methodologies from the history of thought in order to understand how modern-day markets take their distinctive form.
| Publication Date: | 17 January 2014 |
| Publisher: | Palgrave Macmillan UK |
| Imprint: | Palgrave Pivot |
| ISBN-13: | 9781137385482 |
| Format: | Hardback |
| Page Count: | 108 |