From £29.99
From £29.99
Does science matter in economics? This volume answers in the negative. It is argued that science simply doesn’t matter in economics, has never mattered and will probably never matter. Instead, the field has redefined the laws of physics and psychology to carve out its own set.
Does science matter in economics? It is generally agreed that economics is an applied science and not a pure one. In general, applied sciences are based on the laws and principles of pure science. A good example is biology, where the only laws that are invoked are those of physics, specifically the laws of classical mechanics and thermodynamics. Chemistry is another example, where the only laws that are invoked are those of physics.
It is also generally agreed that economics draws from the tributary fields of industrial engineering and psychology, with the former underlying production and the latter, consumption and behavior in general. But, is this the case? Beyond hyperbole, is production theory truly grounded in the laws of industrial engineering? And is consumption theory grounded in behavioral psychology?
This volume answers these questions in the negative. In short, it is argued that science simply doesn’t matter in economics, has never mattered and will probably never matter. Instead, the field has taken it upon itself to redefine the laws of physics as they relate to work and productivity, and of psychology as they relate to human behavior – in short, to carve out a set of laws which is distinct from physics and psychology.
A valuable resource for students, academics, and practitioners of integrated marketing communication (IMC). It details the principles and practices of IMC before presenting a step-by-step process for preparing and executing a plan for any given brand.
A practical guide to the fundamentals of econometrics. Learn the statistical tools to analyse cross-sectional data and evaluate socio-economic relationships. It features theoretical summaries, practical exercises with real-world data, and solutions using Excel or Gretl.
These essays examine new trends in sustainability performance and reporting. They provide theory and evidence on voluntary disclosure and external assurance, making this book a key resource for companies, managers, shareholders, and all related stakeholders.
The rise of the sharing economy is disrupting industries and challenging institutions. This volume brings together research from a wide variety of disciplines, providing a coherent and comprehensive overview of this major global phenomenon.
This book investigates India’s water crisis, focusing on Punjab. It explores the use and abuse of groundwater, revealing its virtual exportation. It examines water governance, offering lessons for all regions grappling with water scarcity and sustainable development.
This book shows that the development of AI and robotics is a natural consequence of human history. It explains how this new robotic age will reshape our economy and society, and how individuals, firms, and governments can prepare for the future.
This book expands open innovation from a static strategic idea to a dynamic principle. It explores underexplored aspects of the concept, including culture, collective intelligence, and its connection to the micro- and macro-dynamics of economics.
As rising inflation puts pressure on households, this book explores what inflation is and how we measure it. It recounts the history of price rises and how pensions, pay and benefits have been affected, examining the political and economic factors driving government responses.
This volume analyses the economies of Asia, Central Asia, and the Balkans. It explores their transition towards a market economy and global integration, covering topics like economic growth, international trade and finance, labor markets, and energy sectors.
Comparative advantage, the cornerstone of international trade, lacks a theory consistent with the data. This book rehabilitates the popular but rejected Heckscher-Ohlin model by endogenizing technology and focusing on natural resources within a framework of vertical trade.
While favorable to the New Deal’s motives, this book is critical of its implementation. It argues the Great Depression was caused by a technological shock that gapped productivity and income. The New Deal sought to close this gap, but its policies were doomed from the start.
The Smoot-Hawley Tariff Act is often blamed for worsening the Great Depression. This book presents an alternative view, arguing the Act was the Republican Party’s attempt to close an output gap caused by a new power technology: electric unit drive (EUD).
Idea-based growth theory has been a bust. This volume presents an alternative approach, drawing from classical mechanics and thermodynamics. Consistent with the historical record and data, it explains the 1970s productivity slowdown, the Solow paradox, and policy failures.
