- Source: Real-world economics
Real-world economics is a school of economics that uses an inductive method to understand economic processes. It approaches economics without making a priori assumptions about how ideal markets work, in contrast to what Nobel Prize-winning economist, Ronald Coase, referred to as "blackboard economics" and its deductive method.
See also
Post-autistic economics
Heterodox economics
Complexity economics
Pluralism in economics
Humanistic economics
Real-World Economics Review
Historical school of economics
Foundations of Real-World Economics
References
Fullbrook, Edward, ed. (2007). Real World Economics: A Post-Autistic Economics Reader. Anthem Press. ISBN 9781843312369.
What Every Economics Student Needs to Know and Doesn't Get in the Usual Principles Text. Routledge. 2014. p. 7. ISBN 978-0765639233.
Foundations of Real-World Economics, Abingdon-on-Thames. Routledge. 2019. p. 192.
External links
Real-World Economics Review
Examples of real-world economics concepts from the American Economic Association
Real-world economics explained at The Economics Network
Foundations of Real-World Economics at Harvard Summer School
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- Real-world economics
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