Economics Needs a Reality Check -
1/ Much of what's taught in economics classrooms doesn't match real-world evidence.
1/ Much of what's taught in economics classrooms doesn't match real-world evidence.
2/ Markets are complex, dynamic, and shaped by innovation, not static equilibrium.
3/ Power law distributions, not perfect competition, are the rule.
4/ Dominant firms can be efficient, and more firms don't always mean better outcomes.
5/ Income distribution shapes demand and market structure as much as preferences.
6/ We need economic models that reflect reality, not just elegant math.
7/ Policy should be grounded in evidence, not ideology.
8/ It's time for economics—and regulation—to catch up with the real world.
9/ Let's build a better economics for the 21st century.
10/ Want more reality-based #economics? Follow and join the conversation!
#business
#business
Mind you, that’s a very generous definition of “elegant”! Only a Neoclassical could love DSGE mythemagic (a better word than mathematics for what Neoclassical economists actually do).
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