Sunday, September 8, 2013

Ronald Coase — Saving economics from the economists

At a time when the modern economy is becoming increasingly institutions-intensive, the reduction of economics to price theory is troubling enough. It is suicidal for the field to slide into a hard science of choice, ignoring the influences of society, history, culture, and politics on the working of the economy.
Lars P. Syll
Saving economics from the economists
Ronald Coase

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