Rethinking Economics From Analogies to the Real World

This brief responds to the criticism that mainstream economics is currently facing due to its heavy reliance on models and narrow range of quantitative research techniques. It takes a broader view, identifying issues that are also relevant for heterodox a

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Stuart Birks

Rethinking Economics From Analogies to the Real World

SpringerBriefs in Economics

More information about this series at http://www.springer.com/series/8876

Stuart Birks

Rethinking Economics From Analogies to the Real World

123

Stuart Birks Massey University Palmerston North New Zealand

ISSN 2191-5504 ISBN 978-981-287-175-6 DOI 10.1007/978-981-287-176-3

ISSN 2191-5512 (electronic) ISBN 978-981-287-176-3 (eBook)

Library of Congress Control Number: 2014946772 Springer Singapore Heidelberg New York Dordrecht London © The Author(s) 2015 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Exempted from this legal reservation are brief excerpts in connection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Duplication of this publication or parts thereof is permitted only under the provisions of the Copyright Law of the Publisher’s location, in its current version, and permission for use must always be obtained from Springer. Permissions for use may be obtained through RightsLink at the Copyright Clearance Center. Violations are liable to prosecution under the respective Copyright Law. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. While the advice and information in this book are believed to be true and accurate at the date of publication, neither the authors nor the editors nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)

Preface

My initial economics training at Essex University and the London School of Economics over 40 years ago focused on mathematical economics and econometrics. This was unusual for the time, it being a time when there was more emphasis on descriptive and historical analyses and many years before the existence of PCs, the internet and online databases. I followed that with a period in strategic planning, working in a multidisciplinary context and considering real-world policy problems. This cross-disciplinary applied work proved invaluable in shaping my perspective on the application of economics. I was interested to find that the questions addressed were very