Julia Köhn

What economists can know

24 Seiten · 4,69 EUR
(Mai 2014)

Ich bin mit den AGB, insbesondere Punkt 10 (ausschließlich private Nutzung, keine Weitergabe an Dritte), einverstanden und erkenne an, dass meine Bestellung nicht widerrufen werden kann.

From the introduction:

This essay goes beyond blaming economics for having failed to predict the crises and asks; what can economists know and what can we expect from economic models? In the first part of the essay I shortly summarize 90 years of economic thought on uncertainty and the limits of economic knowledge, in order to show the specifics of the problem of uncertainty in economics. Afterwards I examine a new economic approach, called Imperfect Knowledge Economics (IKE), that claims to provide "[...] the boundary to what modern macroeconomics and finance can deliver." By critically reviewing IKE in the third part of the essay I will explore and mark the boundaries of IKE and economic knowledge in general.