Nobel Prize winning economist Paul Krugman wrote the following in Slate magazine back in the 1990s:“Economic theory is not a collection of dictums laid down by pompous authority figures. Mainly, it is a menagerie of thought experiments–parables, if you like–that are intended to capture the logic of economic processes in a simplified way. In the…
Economists Love Fables And Parables (Or, The Essence Of Economic Analysis)
Economists Love Fables And Parables (Or, The Essence Of Economic Analysis)
12 Jan 2024 Leave a comment
in applied price theory, history of economic thought
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