Published September 1, 1991 by McGraw-Hill Education .
Written in EnglishRead online
|The Physical Object|
|Number of Pages||45|
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Real-World Economics Review. Click here to visit the Real-World Economics Review website. Board of Editors. Nicola Acocella, Italy, University of Rome Robert Costanza, USA, Portland State University Wolfgang Drechsler, Estonia, Tallinn University of Technology Kevin Gallagher, USA, Boston University Jo Marie Griesgraber, USA, New Rules for Global Finance Coalition.
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Real-world economics is a school of economics that uses an inductive method to understand economic processes. It approaches economics without making a priori assumptions about how ideal markets work, in contrast to what Nobel Prize-winning economist, Ronald Coase, referred to as "blackboard economics" and its deductive method.
The structure of the book is great: key concepts in behavioural economics are motivated by considering the classical approach and developing a narrative of anomalous behaviour that identifies where classical models lack descriptive power, and what behavioural models must capture to be more useful in understanding the real world/5(8).
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The same is true of important precursors of economics such as Ibn Khaldun in the fourteenth century. Today, macroeconomic policymakers, private sector economists who create platforms for the online economy, economic development advisors, and think-tank experts continue this commitment to making the real world a better place.
Relevant Links. Interview with John Komlos about the book (podcast) - New Books Network, 3 April Table of Contents of Foundations of Real-World Economics. Welcome to Real-World Economics (My Credo / Humanistic Economics / A Primer on Blackboard Economics / Toward a Paradigm Shift in Economics / Real-World Economics Is Preferable / Simple Is for Simple Minded.
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Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with. Economics of the Real World A project of the INET Economics Curriculum Task Force December The economic crisis has provoked a crisis in economics.
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Real-World Economics Review is a peer-reviewed open access academic journal of heterodox economics published by the "Post-Autistic Economics Network" since Since it is associated with the World Economics Association.
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