The Path to a Modern Economics

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.

Provides a systematic overview of the consequences of different approaches to complexity reduction in economic theory Explores the relation between analytical framework, treatment of economic complexity in the formulation of that framework, and respective emerging perspectives on economic issues Assesses different economic perspectives and what these have to offer regarding an understanding of economic systems

Autorentext
Henning Schwardt is Visiting Teaching Assistant Professor in the Department of Economics at the University of Denver, USA. His research has focused on institutional economics and development economics, as well as complexity economics.

Inhalt

1. Trends and Changes in Economies.- 2. Individual, Economic Environment, and Mutual Relation.- 3. The Functioning and the Functioning of Markets.- 4. Unemployment as Economic Crises.- 5. Frameworks for Economic Policies.- 6. Final Considerations.-