New PDF release: The Changing Face of Economics: Conversations with Cutting

By David C. Colander, Richard P. F. Holt, John Barkley Rosser

ISBN-10: 0472024795

ISBN-13: 9780472024797

David C. Colander, Richard P. F. Holt, John Barkley Rosser (eds.)

The altering Face of Economics offers the reader a feeling of the trendy economics career and the way it really is altering. the amount does so with a collection of 9 interviews with leading edge economists, by way of interviews with Nobel Prize winners, Paul Samuelson and Kenneth Arrow, reflecting at the alterations which are happening. What effects is a transparent photo of today's economics--and it truly is now not ordinary neoclassical economics.

The interviews and remark jointly display that economics is at the moment present process a basic shift in process and is relocating clear of conventional neoclassical economics right into a dynamic set of latest equipment and techniques. those new methods contain paintings in behavioral economics, experimental economics, evolutionary online game thought and ecological ways, complexity and nonlinear dynamics, methodological research, and agent-based modeling.

Economists incorporated:
Deirdre McCloskey --
Kenneth G. Binmore --
Herbert Gintis --
Robert H. Frank --
Matthew Rabin --
William A. ("Buz") Brock --
Duncan ok. Foley --
Richard B. Norgaard --
Robert Axtell and H. Peyton younger --
Kenneth Arrow --
Paul A. Samuelson.

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Extra info for The Changing Face of Economics: Conversations with Cutting Edge Economists

Example text

He said that I may want to examine a few books like his and some others, which I did over the Christmas break of 1979— the experience is all very vivid to me. It was in my father-in-law’s house. I saw that all science was rhetoric, though I don’t know if I would have expressed it quite as clearly as this in December 1979. After all, science is meant to persuade other scientists. So it’s not just announcing your ‹ndings to the universe; it’s directed at other human beings. Like all speech, the words coming out of my mouth have intent.

The fourth set of interviews, with Richard Norgaard and jointly with Robert Axtell and Peyton Young, shows another dimension of the way in which the complexity revolution is affecting economics. Norgaard was chosen because he has been a crucial developer of the new ecological economics. He represents how modern economics is interacting with other disciplines and is in›uencing the way economic reasoning is used in policy. Axtell, a student of Herbert Simon, was chosen because he has been a leader in the application of simulation methods in the study of complex models of interacting heterogeneous agents.

To abandon tenure at Chicago was one brave thing I did, and then changing gender was another. I think we’re all courageous in our lives. I’m an optimist, so I am hopeful. I don’t think Samuelsonian economics can be the long-run equilibrium of such an important ‹eld such as economics. I think that because of the two secret sins of Samuelsonian economics, the qualitative theorems and signi‹cance testing in the absence of the loss function, we can’t make scienti‹c progress. We can do a lot of other stuff.

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The Changing Face of Economics: Conversations with Cutting Edge Economists by David C. Colander, Richard P. F. Holt, John Barkley Rosser


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