LEADER 03605nam 22005773 450 001 9910820627103321 005 20220603080233.0 010 $a1-63742-233-4 035 $a(MiAaPQ)EBC7002492 035 $a(Au-PeEL)EBL7002492 035 $a(CKB)23031074200041 035 $aEBL7002492 035 $a(AU-PeEL)EBL7002492 035 $a(OCoLC)1323246035 035 $a(OCoLC-P)1323246035 035 $a(CaSebORM)9781637422335 035 $a(EXLCZ)9923031074200041 100 $a20220603d2022 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aWhat Economists Should Do $eIn Defense of Mainstream Economic Thought 205 $aFirst edition 210 1$aNew York :$cBusiness Expert Press,$d2022. 210 4$dİ2022. 215 $a1 online resource (150 pages) 225 1 $aEconomics and public policy collection 300 $aDescription based upon print version of record. 311 08$aPrint version: Tuerck, David G. What Economists Should Do New York : Business Expert Press,c2022 9781637422328 327 $aChapter 1. Introduction -- Chapter 2. Preaching economics -- Chapter 3. Where economics stands today -- Chapter 4. Neoclassical economics and its critics -- Chapter 5. The irrelevance of economic assumptions -- Chapter 6. Ideology -- Chapter 7. Economics and cognitive science -- Chapter 8. What economists should do. 330 3 $aThe discipline of economics suffers from a great deal of dissention among its practitioners. There are a number of economic fields that challenge the validity of "neoclassical economics" or what can be called "main-stream economics." The neoclassical school, which emerged in the 1870s, advanced the study of economics by developing a theory of value based on utility. The earlier classical school saw value as based on the labor content of goods. Neoclassical economics is what college students are taught in their courses on microeconomics. Instruction in microeconomics is centered on the principle that, for any good, price will adjust until supply equals demand. Challenges to this principle come from several sources: behavioral economics, neuroeconomics, Austrian economics, Keynesian economics, and others. A common thread running through these fields is that neoclassical economics rests on unrealistic assumptions and must therefore be questioned for its usefulness.This book argues that, contrary to the critics, neoclassical economicsis the only method available to economists for bringing about rational economic policy choices. Irrational policy choices are the result of voters and politicians letting sentiments, as Adam Smith defined them, get in the way of rational thought. Neoclassical economics predicts that minimum wage laws will cause unemployment of low-wage workers. Yet minimum wage laws remain popular with both voters and politicians. It is the job of economists to question this popularity. 410 0$aEconomics and public policy collection. 606 $aEconomics$xPhilosophy 606 $aNeoclassical school of economics 606 $aKeynesian economics 606 $aEconomics 615 0$aEconomics$xPhilosophy. 615 0$aNeoclassical school of economics. 615 0$aKeynesian economics. 615 0$aEconomics. 676 $a330 700 $aTuerck$b David G$01097778 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910820627103321 996 $aWhat Economists Should Do$93993043 997 $aUNINA