I've been a bit quiet recently (working!) but the messages on economists by
John and Adam have got me interested. I generally agree with John but also
with Adam, particularly about "finding those contexts where standard theory
is appropriate and those where modifications or completely new developments
are required". Ditto partnerships and probably most other social science
maxims. Of course this amounts to never ending work since the context for
economic behaviour depends on each individual- everybody has their
own 'rationale' based on their own knowledge, skills etc.
Every time I have suggested this I have been shot down BUT people should
check out the work by Ronald Inglehart whose research provides huge
insights into behaviour and could be integrated into rational choice and
other economic behaviour theories.
Having said that (and here's the bitchin') I think economists would be
better concentrating on the fallacy of unlimited economic growth,
underpinning our entire social, economic and political system, rather than
developing ever better models to predict economic behaviour. Such data
would inevitably be used to further manipulate ordinary people- economists
who feel they have a 'social conscience' should ask themselves who they
think benefits from such work.
Anyway that's my two-pennies worth.
tim clark
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