Instead of assuming rational expectations and efficient markets to be right, one ought to confront the hypotheses with the available evidence. It is not enough to construct models. Without strong evidence, all kinds of absurd […]
Unfortunately neo-classical economics, although discredited following the 2008 Global Financial Crisis, continues to dominate economic theory – probably because it is the fundament of neoliberal ideology. For over a quarter of a century neo-classical economists […]
Deductivist models and ‘analytical’ methods disconnected from reality are not relevant to predict, explain or understand real-world economies. Lars P. Syll is an economist at the Faculty of Education and Society at Malmö, Sweden Cross-posted […]
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