Mainstream economics. Medical search. Frequent questions

Mainstream economics is the body of knowledge, theories, and models of economics, as taught by universities worldwide, that are generally accepted by economists as a basis for discussion. (wikipedia.org)
Also known as orthodox economics, it can be contrasted to heterodox economics, which encompasses various schools or approaches that are only accepted by a minority of economists. (wikipedia.org)
As a virulent strain of austerity capitalism takes over Europe, leaving shattered lives in its shadow, researchers Servaas Storm and C.W.M. Naastepad, Senior Lecturers in Economics at Delft University of Technology in The Netherlands, consider how things got so bad, what role economists and misguided policy-makers have played, and which models and ideas are needed to change course. (nakedcapitalism.com)
Servaas Storm: In a brief moment after financial crisis, mainstream economists did some soul-searching and rethinking. (nakedcapitalism.com)
By claiming that their economics has no content of power and politics but is neutral, mainstream economists have become "useful" as the influential and invaluable allies of the powers that be, who help to convince the public that the status quo, in Panglossian fashion, is the best of all possible worlds. (nakedcapitalism.com)
After all, the near-consensus among mainstream economists in recent years was that inflation would persist - and even accelerate - and that this justified substantial interest-rate hikes by the US Federal Reserve. (khabarhub.com)
It is no surprise that mainstream economists endorse - indeed, craft - the same arguments. (khabarhub.com)
But I, too, was being polite, because I omitted a third possibility: namely, that some mainstream economists might call for high interest rates to curry favor with bankers, who enjoy larger profit margins when rates are high (especially now that the Fed pays interest on bank reserves directly). (khabarhub.com)
Krugman notes that all the economists he mentions "are very much part of the economics profession's mainstream. (khabarhub.com)
Consider just how often mainstream economists get things wrong - not only small things, but very big ones. (khabarhub.com)
Mainstream economists should perhaps re-examine their core beliefs, or maybe we need a new "mainstream" altogether. (khabarhub.com)
Similarly, today mainstream economists like Krugman admit to being at fault in not predicting the GFC, but blame it on external factors, rather than on central weaknesses in mainstream theories. (era.org.au)
On the surface, it looks like mainstream economists congratulating themselves on what a great job they are doing. (bondeconomics.com)
One standard complaint of mainstream economists is that critics are all wrong about what economists do: they do not all do macro forecasts. (bondeconomics.com)
These mainstream academics make a big deal about whether economists produce forecasts or not. (bondeconomics.com)
Invocation of the survey of mainstream economists about their opinions on theoretical questions that allegedly represented the MMT position. (bondeconomics.com)
Philippon is part of that group of modern mainstream economists, like Olivier Blanchard or latest Nobel prize winner Esther Duflo, who are supposedly delivering meticulous empirical work to reveal the state of capitalism. (braveneweurope.com)
In his book review, Graeber is concerned to expose the policy of austerity that supported by the mainstream economists and followed by the politicians in the wake of the Great Recession. (braveneweurope.com)
Think about the feminist economics' critique to Becker's marriage theory and the traditional division of labor between partners: feminist economists introduced social pressure, traditional habits, self-constraint mechanisms, legal frameworks, and tacit rules as determinants to help explain decisions within the households that overcome the simple bargaining theory as interpreted by standard economics. (libertyfund.org)
While many feminist economists-especially within the first generation-were Marxist-oriented scholars, classical liberal feminism always existed and it found some room within feminist economics as well, as Lemke points out. (libertyfund.org)
Those who control the world's commanding economic heights, buttressed by the theories of mainstream economists, presume that capitalism is a self-contained and self-generating system. (monthlyreview.org)
A year ago, I was looking forward to 2017 as the tenth anniversary of an event that mainstream "neoclassical" economists said couldn't happen: the global financial crisis which kicked off in 2007. (rt.com)
I gladly took part in it, dressing up in a monk's robe, speaking briefly (along with The Guardian's Larry Elliott, and the prominent heterodox economists Vicki Chick, Mariana Mazzucato, and Kate Raworth), and then blue-tacking a hastily and committee-drafted 33 Theses to the entrance to the London School of Economics. (rt.com)
There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. (mit.edu)

The economics profession has traditionally been associated with neoclassical economics. (wikipedia.org)
They argue the current economic mainstream theories, such as game theory, behavioral economics, industrial organization, information economics, and the like, share very little common ground with the initial axioms of neoclassical economics. (wikipedia.org)
From The Wealth of Nations until the Great Depression, the dominant school within the English-speaking world was classical economics, and its successor, neoclassical economics. (wikipedia.org)
It appeared in 2001 edition of the textbook Economics by Samuelson and Nordhaus on the inside back cover in the "Family Tree of Economics", which depicts arrows into "Modern Mainstream Economics" from Keynes (1936) and neoclassical economics (1860-1910). (wikipedia.org)
If we were to apply the same standard to neoclassical economics -- attacking all of neoclassical macro via a few cherry-picked quotations from an Economics 101 textbook, neoclassicals would rightly object. (bondeconomics.com)
So I have a sound judgement, where and how to use mathematics, and how not to misuse it (see premature mathematisation in neoclassical economics). (tuncalik.com)
2013. The core of neoclassical economics (general equilibrium and rational expectations macroeconomics) is demoralized. (bresserpereira.org.br)
It was caused by the deregulation promoted by the neoliberal ideology justified "scientifically" by neoclassical economics. (bresserpereira.org.br)
2010. The 2008 financial crisis was caused by the deregulation promoted by neoliberal and financialized capitalism with the support of neoclassical economics. (bresserpereira.org.br)
Neoclassical economics was the meta-ideology offering "scientific" support to neoliberalism. (bresserpereira.org.br)
2009. Neoliberalism and its "scientific" justification, neoclassical economics, were more than just an assault on the state it was also an assault to the market. (bresserpereira.org.br)

The Final Report of the study on "Promoting education, training and skills across the bioeconomy" included European best practices in the field of HE, VET and education in entrepreneurship and the Faculty of Economics and Business Administration's master programme in Sustainable and Responsible Governance , was included as a best European practice, defined as a governpreneurship. (uni-sofia.bg)
However, successful examples of mainstreaming sustainable consumption remain scarce. (lu.se)
This conference focuses on the challenges, strategies, and successes of mainstreaming sustainable consumption. (lu.se)
The conference will bring together 400-500 researchers and practitioners concerned with sustainable consumption to make progress on mainstreaming sustainable consumption. (lu.se)

However, if you are a mainstream economist and argue that economic outcomes are the result of optimising behaviour along with accepted deviations from optimality, macro analysis is tied to some entity doing macro forecasts. (bondeconomics.com)
So if any mainstream economist reads this, yes this is not a critique of your non-macro academic work. (bondeconomics.com)
I already knew, my co-director Prunetti thinks and behaves like a mainstream (neoclassical/neoliberal) economist. (tuncalik.com)
In Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist , Kate Raworth of Oxford University's Environmental Change Institute reminds us that economic growth was not, at first, intended to signify wellbeing. (theguardian.com)
Every mainstream economist would answer the above question with a recitation of the textbook demonstration that the gains reaped by colluders are less than is the cost of collusion borne by consumers. (eurasiareview.com)
Upon completing this recitation - one that would likely include a nicely drawn " deadweight-loss triangle " - the mainstream economist would be confident that he has proven far beyond a reasonable doubt that the prohibition of collusion well and truly serves the public interest. (eurasiareview.com)
But if you press the mainstream economist to explain why, if collusion is so terrible, a seller's quitting the industry is perfectly acceptable, that economist will stumble. (eurasiareview.com)
The hostility to collusion is so ingrained that the mainstream economist will, at this point, search frantically for reasons to dismiss the above argument. (eurasiareview.com)
The mainstream economist - at least one who is familiar with some economic history - won't be too adamant in disputing the argument that collusive agreements are unstable. (eurasiareview.com)

In June 2021, the Health Assembly adopted the updated Global technical strategy which, inter alia, mainstreamed problem-solving approaches, stratification by malaria burden and tailoring of interventions. (who.int)

The resilience of mainstream economics is a key question that motivates Philip Mirowski's most recent book Never let a serious crisis go to waste: how neoliberalism survived the financial meltdown . (alexsarchives.org)
We seek the truth, avoid the mainstream and are virulently anti-neoliberalism. (blogspot.com)

Although I wish to avoid spending too much time on economic squabbling, the discussion here might be useful if I ever get around to writing an obituary for mainstream macroeconomics. (bondeconomics.com)

Since these pessimists encountered very little mainstream dissent, their doomsaying continued to dominate the discourse well into 2023. (khabarhub.com)
Our dedication to excellence has led us to ranking third in London for Economics in the Guardian league tables of 2023, among the capital's finest institutions. (kingston.ac.uk)
Högnelid, P. , 2023 , Lund University School of Economics and Management, Department of Business Administration . (lu.se)

Steve Keen, in his much-praised critical economics textbook Debunking Economics (2011), argued that, why, and how the neoclassically-driven economics orthodoxy was unable to predict even the second-most obvious of crises in history, the financial meltdown of 2007ff. (exploring-economics.org)
My first introduction to economics in college was through the popular Keynesian textbook written by Paul Samuelson, and his defense of deficit spending, the welfare state, and his anti-saving mentality ("paradox of thrift") was a turnoff, contradicting everything I had been taught as a social conservative Mormon, and so I was immediately looking for alternative models. (mskousen.com)

While Keynes had completely rejected mainstream theories on solid grounds, Hicks and Samuelson constructed a neoclassical synthesis which conceded the short-run to Keynes on the basis of short run wage rigidities, but kept the fundamentals of mainstream theories intact. (era.org.au)
Pointing out holes in the mainstream logic, Weeks aligns himself with the tradition(s) of Karl Marx, John Maynard Keynes and Thorstein Veblen, and with such contemporaries as James K. Galbraith, Ha-Joon Chang and Paul Krugman. (21cir.com)

There was an article in the Fairfax press recently (August 6, 2017) - Crisis in high school economics a threat to national wellbeing - ruing the declining enrolments in secondary school economics programs. (billmitchell.org)
On the one hand, Minsky has been transformed from an eclectic outcast to a darling of the mainstream after the crisis. (era.org.au)
One of the most intriguing questions facing the merry band of wanderers interested in the philosophy and history of economics is how mainstream economic approaches appear to have emerged relatively unscathed from the Global Financial Crisis. (alexsarchives.org)
And, anyway, mainstream economic ideas such as incentive-incapability in markets subject to significant information asymmetries can do a good job of explaining key aspects of the crisis in retrospect. (alexsarchives.org)
Mirowski seeks to embed an understanding of how economics has responded to the crisis within a broader understanding of the activities of what he terms the "Neoliberal Thought Collective" (NTC). (alexsarchives.org)
The recent crisis has exposed the weaknesses of not only the business models of the capitalist world but also the flaws in mainstream economic thought. (21cir.com)

You'd have thought the epoch would have presented a chance to reflect on the past, but it turned out the reflection on that event by the economics profession and the financial press was minimal: it was an event they'd rather forget than commemorate. (rt.com)
INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession. (ineteconomics.org)
Les infirmières palestiniennes sont confrontées à de nombreuses difficultés dans leur travail quotidien en raison de la réduction des possibilités d'avancement et de l'épuisement émotionnel qui peut conduire à l'insatisfaction profession- nelle. (who.int)

We discuss a selection of paradoxes and delusions surrounding mainstream economic theories related to: (1) efficiency and resource use, (2) wealth and wellbeing, (3) economic growth, and (4) the distribution of wealth within and between rich and poor nations. (unu.edu)

As Kling rightly points out, economics "is on the road to sociology" and "sociology itself, as currently practiced as an academic discipline, is characterized by stifling methodological and ideological rigidity. (libertyfund.org)

Stephan Schaefer is a senior lecturer in organisational studies at Lund University School of Economics and Management (LUSEM). (lu.se)
He will then take part in a panel discussion with the microbreweries Hyllie Bryggeri and Brekeriet on-site at Lund University School of Economics and Management. (lu.se)
During the year, we gave scholarships to two Cambodian students for studies at the Master's Programme in International Human Rights Law at Lund University in Sweden and to fourteen female students from disadvantaged backgrounds to study law at the Royal University of Law and Economics", says Ali-Al Nasani, Director of the Cambodia Office. (lu.se)

His work has appeared in Cambridge Journal of Economics , Development and Change , Eastern Economic Review , Industrial Relations , International Review of Applied Economics, International Journal of Political Economy , Journal of Post Keynesian Economics, Journal of Development Economics and Structural Change and Economic Dynamics . (ineteconomics.org)

While being long rejected by many heterodox schools, several assumptions used to underpin many mainstream economic models. (wikipedia.org)
More relevant is the fact that feminist economics and other heterodox economic approaches share the idea, well expressed by Kling, that social norms evolve . (libertyfund.org)
Comments to Tony Lawson's paper, "The nature of heterodox economics" just published here). (bresserpereira.org.br)

Students from a young age are indoctrinated with a series of myths about these matters if they study economics formally. (billmitchell.org)
This book exposes the myths of mainstream economics behind the public discourse and explains why current policies fail to serve the vast majority. (21cir.com)
In straightforward language, John F. Weeks exposes the myths of mainstream economics and explains why current economic policies fail to serve the vast majority of people in the United States, Europe and elsewhere. (21cir.com)

The Guide of Sociology, Economics and Political Science to mainstreaming gender in university teaching offers proposals, examples of good practices, teaching resources and consultation tools to contribute to greater equality between women and men in the field of teaching, knowledge transfer and research in these disciplines. (vives.org)
If you had combined the economics study with studies in psychology and sociology, you would have soon realised that what was being taught in your economics course was total nonsense. (billmitchell.org)
The main problem with standard economics is that it refuses to bridge the gap between economics per se and sociology. (libertyfund.org)
Nonetheless, I do not second Kling's idea that feminist economics relies entirely on Marxist-style sociology whose "normative goal is to expose and reconfigure those power relations. (libertyfund.org)

In fact, the history of real economic crises has never caused the neoclassical mainstream of economics to enter into any paradigm shift (pp.4f. (exploring-economics.org)
Against the crystalized paradigm of standard economics, which does not take into account the dynamic nature of social norms, feminist economics targets the specificity of social norms in different historical frameworks and geographic contexts and tries to explain gender inequality by considering those social norms as relevant elements for understanding gender issues. (libertyfund.org)

Book Review by Mathew D. Rose Although the topic of inequality is vital to today's discussions about politics and economics, it is surprising how little importance was attributed to it in the past. (braveneweurope.com)

Since 1992, the number of year 12 students taking economics has declined by almost 70 per cent, from 40,000 to closer to 10,000. (billmitchell.org)
He obtained a PhD in Economics (in 1992) from Erasmus University Rotterdam. (ineteconomics.org)

This book should be read by all who seek the restoration of sanity in economics from the corrupting clutches of perhaps the biggest austerity hoax ever perpetrated. (21cir.com)

If you have had the misfortune to study economics formally at university then you will recall sitting through endless and tedious lectures where the instructor asserted some superior knowledge about psychology and human behaviour. (billmitchell.org)
Third, to skew towards children from well-off families in private schools continuing to study economics just tells me that the old networks the channel these children into decision-making positions, which perpetuate the existing neoliberal frame, is alive and well and won't change any time soon. (billmitchell.org)
When you first start to study economics, particularly at universities, you are forced to rote learn and accept a very curious set of assumptions about human behaviour. (billmitchell.org)

Prior to the development and prevalence of classical economics, the dominant school in Europe was mercantilism, which was rather a loose set of related ideas than an institutionalized school. (wikipedia.org)

The only way to avoid future financial crashes is to revolutionize economics because catastrophic turmoil is built into the current system. (rt.com)

Neoclassical economic theory still dominates the mainstream and so economics is locked into 'microfoundations' based on unrealistic assumptions, namely that crises are really momentary 'shocks' to a basically harmonious market economy where equilibrium is the tendency, not disequilibrium. (braveneweurope.com)
The tendency in economics now-as well as in a great deal of public discussion-is to view the economy as a natural force, existing independently from our ideas about what it is and how it ought to work. (bostonreview.net)

Increasingly, empirical evidence refutes many of the theoretical pillars of mainstream economics. (unu.edu)

In addition, the book will make a valuable contribution to undergraduate courses in social sciences, especially economics. (21cir.com)

With the development of modern economics, conventionally given as the late 18th-century The Wealth of Nations by Adam Smith, British economics developed and became dominated by what is now called the classical school. (wikipedia.org)

My interests have always been eclectic, and economics interested me intensely because it covers my other interests in mathematics, history, finance, politics and writing. (mskousen.com)
He studied mathematics, economics and business. (cdc.gov)

There is a second, and arguably more important layer to those protests, which is not about hard economics, but which can nevertheless be explained using economic logic. (iea.org.uk)

However, my interpretation is that my views were confirmed: mainstream macro is essentially a dead body of theory. (bondeconomics.com)
2005. Tony Lawson is making an important contribution to economic methodology with his ontological approach, and also because he sees that mainstream economics is essentially characterized by the method it uses - a mathematical-deductive method. (bresserpereira.org.br)

An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). (blogspot.com)

One might expect, that as a professor of economics, I would be similarly troubled. (billmitchell.org)

John Weeks, an American living in London, is professor emeritus of economics at SOAS, University of London. (21cir.com)

One can hardly say that studying economics in most schools prepares the student to develop a sound understanding of the way the monetary system operates and the policy choices available to a currency-issuing government. (billmitchell.org)

Second, I'm not worried that students are no longer studying economics at high school given the poverty of the curriculum that is offered. (billmitchell.org)
The impact of Sen's ideas on policies on how to fight poverty, capability deprivation, and social injustices is against mainstream economics: social reforms-such as improvements in education and public health-must precede economic reform. (lu.se)

And a key part of his answer is the way the economics discipline has changed. (alexsarchives.org)
There is a growing feeling, among those who have the responsibility of managing large economies, that the discipline of economics is no longer fit for purpose. (braveneweurope.com)

John F. Weeks' polemic on the 'Economics of the 1%' explores these intellectual blind alleys and takes no prisoners. (21cir.com)

Hence, it seems that we all share a general attitude to consider feminist economics a more proficient way to deal with gender issues and gender inequality than standard economics does. (libertyfund.org)
If standard economics does not consider gender stereotypes-social pressure based on gender and gender discrimination as possible sources of a specific form of inequality-that harm women's (and other gender identities') freedom, it must be corrected. (libertyfund.org)
The fact that feminist economics introduced gender within economics represented a way to enrich economics as a social science. (libertyfund.org)

Economics and Beyond with Rob Johnson, a podcast featuring interviews with some of the world's most important thinkers, artists, and activists about the pressing issues of our time. (ineteconomics.org)
Economics at Kingston unveils the intricate dynamics governing the world's financial systems, enabling you to comprehend the forces shaping markets, industries, and societies. (kingston.ac.uk)

citation needed] In continental Europe, the earlier work of the physiocrats in France formed a distinct tradition, as did the later work of the historical school of economics in Germany, and throughout the 19th century there were debates in British economics, notably the opposition underconsumptionist school. (wikipedia.org)

We somehow agree in considering the introduction of feminist economics within economic theory as a necessary step to better understanding social and cultural phenomena that cannot be reduced to a mere effect of a neutral mechanism of maximization that leads to multiple states of equilibria as described by standard economics. (libertyfund.org)
1970. Economic theory is formed of two branches: formal economics, a sum of tools, and political economy, the analysis of real economic systems and problems. (bresserpereira.org.br)

We promote a critical review of the economics curriculum that it better serve an understanding of economics in the real world which has been severely lacking in mainstream economic doctrine. (era.org.au)

Given the dominance of the mainstream, neo-liberal way of thinking in economics and the way in which this erroneous framework permeates the teaching of the subject in both secondary schools and universities, I suspect the students are better off without the propaganda. (billmitchell.org)

An economics background opens doors across diverse sectors, from finance and consultancy to government agencies and NGOs, presenting versatile career pathways. (kingston.ac.uk)

It forced me to always be informed and ready to defend my beliefs in economics, politics and religion. (mskousen.com)

The point is that these courses are typically more damaging than useful and the contention of the journalist that we are reducing the quality of the economic debate as a result of less people studying economics is problematic. (billmitchell.org)
Economics typically deals with systems far from equilibrium - specifically with models of growth. (nature.com)

Graeber was attacking mainstream economics and its policy makers for not seeing the coming of the global financial crash and the ensuing Great Recession and for still not learning anything since. (braveneweurope.com)

Indeed, having lost the economic model, the new book is less a recognizable work of economics than an overarching political-economic-social history of much of the globe over several centuries, buttressed by an extraordinary command of the literature in economics, history, and political science. (bostonreview.net)

However, that is an utterly irrelevant point for most people: they do not really care about the non-macro parts of economics. (bondeconomics.com)
To be more precise, the average person cares about non-macro economics as much as they do about any other field of the humanities: not a whole lot. (bondeconomics.com)

And this was precisely what feminist economics tried to do when it emerged fifty years ago. (libertyfund.org)
This is largely because foundational concepts to do with risk and randomness originated in seventeenth-century economics, predating by some 200 years the concept of ergodicity, which arose in nineteenth-century physics. (nature.com)

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