COMPARATIVE ECONOMIC SYSTEMS
In: American behavioral scientist: ABS, Band 13, Heft 2, S. 393-414
ISSN: 0002-7642
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In: American behavioral scientist: ABS, Band 13, Heft 2, S. 393-414
ISSN: 0002-7642
Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- Preface -- A Note on the Efficient Reading of This Book -- Acknowledgments -- Part I Economic Theory as Physics -- Introduction -- 1 Physics and Economics-A Theory Comparo -- 2 Physics and Economics-A Performance Comparo -- 3 Immortal Constants -- 4 Mitigations? -- Part I-The Gist -- Part II Branches of Economic Theory-Differential Disappointments -- 5 General Economic Equilibrium Is Neither -- 6 Macroeconomics: Theorem-Seeking, Forecasting Failure -- 7 Finance: It Works-but How?
Nietzsche distinguished between two forces in art: Apollonian, which represents order and reason, and Dionysian, which represents chaos and energy. An ideal work of art combines these two characteristics in a believable, relatable balance. Economists, Ward argues, have operated for too long under the assumption that their work reflects scientific, Apollonian principals when these simply do not or cannot apply: "constants" in economics stand in for variables, mathematical equations represent the simplified ideal rather than the complex reality, and the core scientific principal of replication is all but ignored. In Dionysian Economics, Ward encourages economists to reintegrate the standard rigor of the scientific method into their work while embracing the fact that their prime indicators come from notoriously chaotic and changeable human beings. Rather than emphasizing its shortfalls compared to an extremely Apollonian science, such as physics, economics can aspire to the standards of a science that accounts for considerable Dionysian variation, such as biology. The book proposes that economists get closer to their dynamic objects of study, that they avoid the temptation to wish away dynamic complexity by using simplifying assumptions, and that they recognize the desire to take risks as fundamentally human.
In: Springer eBook Collection
In: OSZE-Jahrbuch, Band 11, S. 197-215
World Affairs Online
In: OSZE-Jahrbuch, Band 11, S. 197-216
In: Helsinki monitor: security and human rights, Band 11, Heft 1, S. 37-47
ISSN: 0925-0972
World Affairs Online
In: Helsinki monitor: quarterly on security and cooperation in Europe, Band 11, Heft 1, S. 37-47
ISSN: 1571-814X
In: Slavic review: interdisciplinary quarterly of Russian, Eurasian and East European studies, Band 47, Heft 2, S. 344-345
ISSN: 2325-7784
In: The journal of economic history, Band 41, Heft 1, S. 235-236
ISSN: 1471-6372
In: American behavioral scientist: ABS, Band 23, Heft 3, S. 393-414
ISSN: 1552-3381