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 welcome page » Economy  » Development, growth & knowledge  » Knowledge & technical progress 
What economists can know
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What economists can know

24 pp. · 5.37 EUR
( May 13, 2014 )

 
 
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From the introduction:

This essay goes beyond blaming economics for having failed to predict the crises and asks; what can economists know and what can we expect from economic models? In the first part of the essay I shortly summarize 90 years of economic thought on uncertainty and the limits of economic knowledge, in order to show the specifics of the problem of uncertainty in economics. Afterwards I examine a new economic approach, called Imperfect Knowledge Economics (IKE), that claims to provide "[...] the boundary to what modern macroeconomics and finance can deliver." By critically reviewing IKE in the third part of the essay I will explore and mark the boundaries of IKE and economic knowledge in general.


quotable essay from ...
the author
Julia Köhn

Wissenschaftliche Mitarbeiter bei Prof. Dr. B. Priddat, Universität Witten-Herdecke. Seit 2011 promoviert sie am Lehrstuhl für Politische Ökonomie (Prof. Dr. B. Priddat) an der Universität Witten/Herdecke.

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