The path to a modern economics : dealing with the complexity of economic systems

Description

This book illustrates how the treatment of complexity in analytical frameworks shapes economic studies. It explores the ways economists make sense of our economic environment and where their differences in interpretations of economic issues and policy proposals are rooted. Schwardt examines developments in economies and the role of the public sector over the last few centuries. Taking a theoretical approach and addressing different analytical frameworks, a basic distinction is introduced between top-down approaches, where assumptions about the economic environment are formulated at the outset; and bottom-up approaches, where an economic environment emerges from the interactions of the individual agents. By recognising the validity of alternate perspectives on economic issues, Schwardt proposes an improved foundation for economics research and policy. Front Matter ....Pages i-xi Trends and Changes in Economies (Henning Schwardt)....Pages 1-35 Individual, Economic Environment, and Mutual Relation (Henning Schwardt)....Pages 37-110 The Function and the Functioning of Markets (Henning Schwardt)....Pages 111-166 Unemployment as Economic Crises (Henning Schwardt)....Pages 167-230 Frameworks for Economic Policy (Henning Schwardt)....Pages 231-328 Final Considerations (Henning Schwardt)....Pages 329-342 Back Matter ....Pages 343-366