By Mark Buchanan
Economia
Romer's disagreement with Lucas and Prescott, then, might actually be about what economics should be. Like a physicist, chemist, or biologist, Romer wants to do economics of the real world. The others -- along with their colleagues in the more rarefied theoretical heights of economics -- want to do “mathematical economics,” which they see as the study of a certain class of abstract mathematical models. If you were looking for advice on how to get out of a deep recession, whom would you call?
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Economia
"Real" or "mathematical" economics
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The most important equation in economics Much of the history of economics can be traced by the contents of its best-selling textbooks. In 1848, John Stuart Mill published the blockbuster economics textbook of the 19th century: Principles of Political...
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