'A set of lucid and thought-provoking essays on important but often neglected topics. It deserves a wide readership.' - Thomas Mayer, University of California, Davis, US 'David Colander is an economist watcher. He has much of wisdom to say about how graduate economist training in the top University departments has gone badly off the rails. They don't teach their students how to apply economics sensibly, transforming them into model-driven, number-crunching individuals. This book contains a set of very serious essays, and is not just a jeremiad. Three cheers.' - W.Max Corden, Johns Hopkins University, US Economics is the study of a complex system in which simple laws are not always forthcoming. That complexity mandates three branches of the profession: positive, normative and the art of economics. the economics profession has focused on one of these - positive economics, and in doing so has lost the art of economics. In a series of provocative essays the author argues that most of what economists do is applied policy, which belongs in the art of economics, not in normative or positive economics. the essays explore the forces in academic institutions that have led economics to its current position, as well as the implications of the lost art for the economics profession and its future. In the end, the author is positive about the future of the profession, and predicts that in 2050 it will no longer be as Solow suggested it currently is - 'the overeducated in pursuit of the unknowable'. Instead it will be the 'appropriately educated in search of the knowable'.They dona#39;t teach their students how to apply economics sensibly, transforming them into model-driven, number-crunching individuals. This book contains a set of very serious essays, and is not just a jeremiad. Three cheers.
|Title||:||The Lost Art of Economics|
|Author||:||David C. Colander|
|Publisher||:||Edward Elgar Publishing - 2003-01-01|