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Uneconomic Economics and the Crisis of the Model World

  • Book
  • © 2014

Overview

Authors:
  1. Matthew Watson

    1. University of Warwick, UK

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Table of contents (4 chapters)

  1. Front Matter

    Pages i-x
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  2. Setting the Scene: From a Crisis of Economics to a Crisis of the State

    • Matthew Watson
    Pages 1-19

  3. The Collapse of the Model World: From Faith in Equations to Unsustainable Asset Bubbles

    • Matthew Watson
    Pages 20-44

  4. The Creation of the Model World: From Formalist Techniques to the Triumph of Uneconomic Economics

    • Matthew Watson
    Pages 45-67

  5. Looking Ahead: From Uneconomic Economics to a Different Future

    • Matthew Watson
    Pages 68-83

  6. Back Matter

    Pages 84-108
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Keywords

About this book

What has gone wrong with economics? Economists now routinely devise highly sophisticated abstract models that score top marks for theoretical rigour but are clearly divorced from observable activities in the current economy. This creates an 'uneconomic economics', where models explain relationships in blackboard rather than real-life markets.

Authors and Affiliations

  • University of Warwick, UK

    Matthew Watson

About the author

Matthew Watson is Professor of Political Economy in the Department of Politics and International Studies at the University of Warwick, UK. Since 2013 he is also an ESRC Professorial Fellow working on the project 'Rethinking the Market'. In his research he applies methodologies from the history of thought in order to understand how modern-day markets take their distinctive form.

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