Introduction to The Invisible Hand in Economics (Routledge, 2008)

  This is the Introduction to The Invisible Hand in Economics: How Economists Explain Unintended Social Consequences (Routledge, 2008). If you prefer to read the PDF version, it is available on ResearchGate. Everyone is familiar with the (aesthetically) unpleasant walking-paths on public green fields. Usually, around these fields there are constructed paths for the serviceContinue reading “Introduction to The Invisible Hand in Economics (Routledge, 2008)”

The diversity of models as a means to better explanations in economics

ABSTRACT. In Economics Rules, Rodrik [(2015). Economics rules: Why economics works, when it fails, and how to tell the difference. Oxford: Oxford University Press] argues that what makes economics powerful despite the limitations of each and every model is its diversity of models. Rodrik suggests that the diversity of models in economics improves its explanatory capacities, butContinue reading “The diversity of models as a means to better explanations in economics”