by Summary:
... economists seem to be undeterred by these new understandings brought to physics or even by the blow brought to Newton’s mechanics by 20th-century quantum physics and Einstein’s relativity. They continue to stick to classical mechanics as if nothing had changed in the way physician understand the physical world. Nor are they bothered by the way other social and political sciences came to understand the social world; or how in neurosciences and psychology, the understanding of the working of the human brain is undoubtedly far-removed from the assumption of “rational behaviour” economists like to base their models on. As have neoclassic economists never seriously asked themselves whether the mathematical equations resulting from leaving aside all potential friction and nuisances while
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... economists seem to be undeterred by these new understandings brought to physics or even by the blow brought to Newton’s mechanics by 20th-century quantum physics and Einstein’s relativity. They continue to stick to classical mechanics as if nothing had changed in the way physician understand the physical world. Nor are they bothered by the way other social and political sciences came to understand the social world; or how in neurosciences and psychology, the understanding of the working of the human brain is undoubtedly far-removed from the assumption of “rational behaviour” economists like to base their models on. As have neoclassic economists never seriously asked themselves whether the mathematical equations resulting from leaving aside all potential friction and nuisances while
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Mike Norman considers the following as important:
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... economists seem to be undeterred by these new understandings brought to physics or even by the blow brought to Newton’s mechanics by 20th-century quantum physics and Einstein’s relativity. They continue to stick to classical mechanics as if nothing had changed in the way physician understand the physical world. Nor are they bothered by the way other social and political sciences came to understand the social world; or how in neurosciences and psychology, the understanding of the working of the human brain is undoubtedly far-removed from the assumption of “rational behaviour” economists like to base their models on. As have neoclassic economists never seriously asked themselves whether the mathematical equations resulting from leaving aside all potential friction and nuisances while establishing models of the economic reality bear any meaning describing actual reality and real-world events.…Real-World Economics Review Blog
The ideological function of economic theories and models
extract from
real-world economics review, issue no. 94
Andri W. Stahel, Universitat Popular del Baix Montseny, UPBM, Barcelona, Spain
See also
General equilibrium illusions
Lars P. Syll | Professor, Malmo University