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econ - See More About post autistic economics stylized...

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See More About: * post autistic economics * stylized facts Sponsored Links Keynes Economic TheoryWhy He Is Wrong. Buy & Find Out. New Book: Where Keynes Went Wrong!www.AxiosPress.com Economics Homework HelpMicro / Macro Economics Homework Help by Economics Professorswww.ASAPTutor.com University of PhoenixEarn an AA, BS, or Masters Degree in Economics. Official Site.Phoenix.edu Economics Ads Economics On Line Economics School of Economics Best Economics Blog Economics MS Online Before we begin, I would just like to state for the record that I'm wholly against using the term "autistic" in a pejorative sense. However, one of the largest groups seeking to reform the study of economics describes itself as Post Autistic Economics (PAE), so I will follow their language. The PAE movement, in my view, often goes too far in their criticism of modern economics. I do, however, concede that they have a point; economics as it is conducted now does have "autistic" (as they call it) tendencies. Research in economics unfortunately often is set-up as follows: The 'Autistic' Tendencies of Academic Economics Research * Think about a 'problem' and create a number of 'stylized facts' which you believe accurately describe the phenomenon you have chosen to study. * Create a number of assumptions based on these stylized facts. Ensure that they are mathematically tractable, that is, they have certain mathematical properties that make them easy to use (continuous, twice differentiable, etc.) * Using a fixed point theorem or other mathematical tools, find an 'equilibrium' to the problem; at a minimum at least prove that one must exist. Bonus points if you can prove that the equilibrium is unique.
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