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The Basic Assumptions of Previous Economics

In: Economics as an Empirical Social Science

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  • Daniel Weißbrodt

Abstract

The economy, when studying the textbooks of economics, seems inevitably and unavoidably to be a fluctuating, hovering, and trembling tightrope walk at great heights, and every smallest misstep, every wrong decision, every breath of air can lead to the collapse of the fragile balance and to a crash. Samuelson & Nordhaus, for example, describe the economy entirely without irony asBontrup notes:and Stiglitz & Walsh state:The crisis and the fear of the crisis, the constant attempts to foresee and avoid it, to mitigate its consequences and to overcome it, seem almost like a natural law to be the permanent companions of all economic events.

Suggested Citation

  • Daniel Weißbrodt, 2024. "The Basic Assumptions of Previous Economics," Springer Books, in: Economics as an Empirical Social Science, chapter 0, pages 11-32, Springer.
  • Handle: RePEc:spr:sprchp:978-3-658-45123-3_2
    DOI: 10.1007/978-3-658-45123-3_2
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