Friday , April 4 2025
Home / Lars P. Syll / Why economics has failed so miserably

Why economics has failed so miserably

Summary:
Why economics has failed so miserably .[embedded content] The economy is — as emphasised by both Keynes and Soros — pervaded by genuine uncertainty and reflexivity. The uncertainty makes the future difficult to anticipate and reflexivity often makes our expectations about the future something that actually changes the future. They both severely undermine the explanations and predictions that are made  within the standard economic models.

Topics:
Lars Pålsson Syll considers the following as important:

This could be interesting, too:

Lars Pålsson Syll writes Schuldenbremse bye bye

Lars Pålsson Syll writes What’s wrong with economics — a primer

Lars Pålsson Syll writes Krigskeynesianismens återkomst

Lars Pålsson Syll writes Finding Eigenvalues and Eigenvectors (student stuff)

Why economics has failed so miserably

.

The economy is — as emphasised by both Keynes and Soros — pervaded by genuine uncertainty and reflexivity. The uncertainty makes the future difficult to anticipate and reflexivity often makes our expectations about the future something that actually changes the future. They both severely undermine the explanations and predictions that are made  within the standard economic models.

Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

Leave a Reply

Your email address will not be published.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