LEADER 03721oam 2200673Ka 450 001 9910778817803321 005 20190503073401.0 010 $a0-262-30083-4 010 $a1-283-44894-7 010 $a9786613448941 010 $a0-262-30158-X 024 8 $a9786613448941 035 $a(CKB)2550000000079871 035 $a(EBL)3339368 035 $a(SSID)ssj0000595903 035 $a(PQKBManifestationID)11334456 035 $a(PQKBTitleCode)TC0000595903 035 $a(PQKBWorkID)10556022 035 $a(PQKB)10943940 035 $a(MiAaPQ)EBC3339368 035 $a(OCoLC)774393823$z(OCoLC)776813689$z(OCoLC)779696019$z(OCoLC)817058242$z(OCoLC)824108008$z(OCoLC)961507882$z(OCoLC)962630704$z(OCoLC)1055351835$z(OCoLC)1065938241$z(OCoLC)1081188699 035 $a(OCoLC-P)774393823 035 $a(MaCbMITP)9120 035 $a(Au-PeEL)EBL3339368 035 $a(CaPaEBR)ebr10527255 035 $a(CaONFJC)MIL344894 035 $a(OCoLC)774393823 035 $a(EXLCZ)992550000000079871 100 $a20120130d2012 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe craft of economics $elessons from the Heckscher-Ohlin framework /$fEdward E. Leamer 210 $aCambridge, Mass. $cMIT Press$dİ2012 215 $a1 online resource (207 p.) 225 1 $aThe Ohlin lectures 300 $aDescription based upon print version of record. 311 $a0-262-01687-7 320 $aIncludes bibliographical references and index. 327 $aIntroduction -- The Heckscher-Ohlin framework as economic fiction -- The econometric journalism of the HO framework. 330 8 $aIn this spirited and provocative book, Edward Leamer turns an examination of the Heckscher--Ohlin framework for global competition into an opportunity to consider the craft of economics: what economists do, what they should do, and what they shouldn't do. Claiming "a lifetime relationship with Heckscher--Ohlin," Leamer argues that Bertil Ohlin's original idea offered something useful though vague and not necessarily valid; the economists who later translated his ideas into mathematical theorems offered something precise and valid but not necessarily useful. He argues further that the best economists keep formal and informal thinking in balance. An Ohlinesque mostly prose style can let in faulty thinking and fuzzy communication; a mostly math style allows misplaced emphasis and opaque communication. Leamer writes that today's model- and math-driven economics needs more prose and less math. Leamer shows that the Heckscher--Ohlin framework is still useful, and that there is still much work to be done with it. But he issues a caveat about economists: "What we do is not science, it's fiction and journalism." Economic theory, he writes, is fiction (stories, loosely connected to the facts); data analysis is journalism (facts, loosely connected to the stories). Rather than titling the two sections of his book Theory and Evidence, he calls them Economic Fiction and Econometric Journalism, explaining, "If you find that startling, that's good. I am trying to keep you awake." 410 0$aOhlin lectures. 606 $aHeckscher-Ohlin principle 606 $aInternational trade$xEconometric models 606 $aEconomics 610 $aECONOMICS/General 615 0$aHeckscher-Ohlin principle. 615 0$aInternational trade$xEconometric models. 615 0$aEconomics. 676 $a382.01 700 $aLeamer$b Edward E.$014438 801 0$bOCoLC-P 801 1$bOCoLC-P 906 $aBOOK 912 $a9910778817803321 996 $aThe craft of economics$93822603 997 $aUNINA