Tuesday , July 23 2024
Home / Thomas Palley: Economics for Democratic and Open Societies / Broadening the application of hysteresis in economics: institutions, policy lock-in, psychology, identity, and ideas

Broadening the application of hysteresis in economics: institutions, policy lock-in, psychology, identity, and ideas

Summary:
This paper argues for broadening the application of hysteresis to institutions, policy lock-in, psychology, identity, and economic ideas. Hysteresis is an element of historical processes, and the real world is historical. That explains why hysteresis is pervasive and important. Hysteresis should be a fundamental building block of political economy. Expanding its application in economics is ...

Topics:
tom considers the following as important: , ,

This could be interesting, too:

Lars Pålsson Syll writes The teaching of economics — captured by a small and dangerous sect

Editor writes Hudson on Super Imperialism 1

Lars Pålsson Syll writes Wie eine höhere Vermögenssteuer die Wirtschaft verbessern kann

Lars Pålsson Syll writes The teaching of economics — captured by a small and dangerous sect

This paper argues for broadening the application of hysteresis to institutions, policy lock-in, psychology, identity, and economic ideas. Hysteresis is an element of historical processes, and the real world is historical. That explains why hysteresis is pervasive and important. Hysteresis should be a fundamental building block of political economy. Expanding its application in economics is […]
About tom

Leave a Reply

Your email address will not be published. Required fields are marked *