February 7, 2010

Maxine Udall: Should economists be sued?

This is a great post from Maxine Udall about the discipline of Economics and some of the theoretical foundations that it has been founded upon. One sample:

Now add to this the promotion and tenure policies at even second rate economics departments that require and only reward publication in journals that favor morally vacant, mathematically rigorous, theoretically obtuse existence proofs that more often than not bear no relation to reality as we know it. One is then left with an economics literature that few people, including some who have majored in economics as undergrads, can truly understand, either in its content or in its relevance to the important moral and economic issues that confront us today.

You should definitely take the time to read the rest...especially if you're interested in the question of whether or not human behavior is something that can be boiled down to a mathematical equation.

via Economist's View

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