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Author: Edward E. Leamer Publisher: MIT Press ISBN: 0262300834 Category : Business & Economics Languages : en Pages : 207
Book Description
A review of the Heckscher–Ohlin framework prompts a noted economist to consider the methodology of economics. In 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.”
Author: Edward E. Leamer Publisher: MIT Press ISBN: 0262300834 Category : Business & Economics Languages : en Pages : 207
Book Description
A review of the Heckscher–Ohlin framework prompts a noted economist to consider the methodology of economics. In 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.”
Author: Michael S. Weisbach Publisher: Princeton University Press ISBN: 0691216584 Category : Business & Economics Languages : en Pages : 320
Book Description
An incisive guide that helps up-and-coming economists become successful scholars The Economist's Craft introduces graduate students and rising scholars to the essentials of research, writing, and other critical skills for a successful career in economics. Michael Weisbach enables you to become more effective at communicating your ideas, emphasizing the importance of choosing topics that will have a lasting impact. He explains how to write clearly and compellingly, present and publish your findings, navigate the job market, and more. Walking readers through each stage of a research project, Weisbach demonstrates how to develop research around a theme so that the value from a body of work is more than the sum of its individual papers. He discusses how to structure each section of an academic article and describes the steps that follow the completion of an initial draft, from presenting and revising to circulating and eventually publishing. Weisbach reveals how to get the most out of graduate school, how the journal review process works, how universities decide promotions and tenure, and how to manage your career and continue to seek out rewarding new opportunities. A how-to guide for the aspiring economist, The Economist's Craft covers a host of important issues rarely taught in the graduate classroom, providing readers with the tools and insights they need to succeed as professional scholars.
Author: Anna Mignosa Publisher: Springer ISBN: 3030021645 Category : Business & Economics Languages : en Pages : 312
Book Description
Are we aware of the values of craft? In this edited volume, cultural economists, researchers and professionals provide an interdisciplinary discussion of the relevance and contribution of the craft sector to the economy, as well as to society at large. Mignosa and Kotipalli bring together contributors to compare the craft sector across countries, analysing the role of institutions, educational bodies, organisations and market structure in its evolution and perception. The Western approach to craft and its subordinate position to the arts is contrasted with the prestige of craftmanship in Eastern countries, while the differing ways that craft has attracted the attention of policy agencies, museums, designers and private institutions across regions is also analysed. This volume is vital reading to those interested in the economic features of craft and craftsmanship around the world, as well as for those interested in the importance of policy in bringing about effective sustainable development.
Author: S. Luckman Publisher: Springer ISBN: 1137399686 Category : Social Science Languages : en Pages : 311
Book Description
Craft and the Creative Economy examines the place of craft and making in the contemporary cultural economy, with a distinctive focus on the ways in which this creative sector is growing exponentially as a result of online shopfronts and home-based micro-enterprise, 'mumpreneurialism' and downshifting, and renewed demand for the handmade.
Author: Clopper Almon Publisher: ISBN: 9781548489786 Category : Languages : en Pages : 458
Book Description
This book is a practical guide to building economic models both macroeconomic and multisectoral. It uses free software available from the Internet together with regularly updated databanks including the quarterly national accounts of the United States and other quarterly data. It assumes no prior acquaintance with econometrics or computer programming, but does assume a willingness to follow a mathematical argument. Much of the text has often been used in college teaching. The book begins with a very simple model that can be computed with a hand calculator or cell phone. The model has, however, a nonlinearity in the investment function and shows how a nonlinearity can lead to a model with a cycle which neither damps out nor explodes. It then moves to models built with real data in the framework of the U.S. National Income and Product Accounts and develops the important concept of identity-centered modeling. Once the identities are are working properly, the modeler can proceed to the estimation of equations by least-squares regressions. Gradually the reader is led to the construction of a model roughly comparable to those used by commercial economic forecasting firms. At every step of the way, the reader sees results of calculations with real data and is urged to estimate his or her own equations with real, up-to-date data. The second section explores making alternative forecasts with this model and devising optimal economic policies with its aid. It also explores the range of uncertainty of the forecasts due to known variability of the errors in its equations. A rather long chapter expounds some conventional econometric methods and applies them to real data to both illustrate them and evaluate their usefulness. Although most of the book uses equations which are linear in the parameters which must be estimated, some functions very useful for certain purposes in economics are non-linear in the parameters. A chapter is devoted to their estimation. Most of the book uses the relatively simple U.S. system of national accounts, but one chapter deals with modeling with the more complicated System of National Accounts used by most other countries. Like the economy itself, dynamic models such as those built here have a tendency to develop cycles. One chapter looks into the mathematical theory of why that is so. The third section enlarges the scope of the book to include multisectoral models. Although here the model actually built is a tiny one of 8-sectors with made-up data, the methods employed are exactly those of the Inforum models used in a number of countries around the world. Multi-sectoral models can use many of the same techniques used for macromodels, but there are some additional problems. One of these is the estimation of personal consumption functions where the demand for any one product depends not only on its price but those of all other products. One method which has worked better than others is explained and the results of its estimation in four countries are presented and compared. Another problem is the computation of product-to-product tables from those constructed by statistical agencies. The book does not explain Real Business Cycle models, nor Computable General Equilibrium models, nor Dynamic Stochastic General Equilibrium models, which are all, in the author's opinion, unrealistic fads, not serious ways of modeling an economy..
Author: Richard E. Ocejo Publisher: Princeton University Press ISBN: 0691183198 Category : Social Science Languages : en Pages : 368
Book Description
In today’s new economy—in which “good” jobs are typically knowledge or technology based—many well-educated and culturally savvy young people are instead choosing to pursue traditionally low-status manual labor occupations as careers. Masters of Craft looks at the renaissance of four such trades: bartending, distilling, barbering, and butchering. In this engaging book, Richard Ocejo takes you into the lives and workplaces of these people to examine how they are transforming once-undesirable jobs into “cool” and highly specialized upscale occupations. He shows how they find meaning in these jobs by enacting a set of “cultural repertoires,” resulting in a new form of elite taste-making. Focusing on cocktail bartenders, craft distillers, upscale men’s barbers, and whole-animal butcher shop workers in Manhattan, Brooklyn, and upstate New York, Masters of Craft provides new insights into the stratification of taste, the spread of gentrification, and the evolving labor market in today’s postindustrial city.
Author: Dani Rodrik Publisher: W. W. Norton & Company ISBN: 0393246426 Category : Business & Economics Languages : en Pages : 161
Book Description
“A hugely valuable contribution. . . . In setting out a defence of the best in economics, Rodrik has also provided a goal for the discipline as a whole.” —Martin Sandbu, Financial Times In the wake of the financial crisis and the Great Recession, economics seems anything but a science. In this sharp, masterfully argued book, Dani Rodrik, a leading critic from within, takes a close look at economics to examine when it falls short and when it works, to give a surprisingly upbeat account of the discipline. Drawing on the history of the field and his deep experience as a practitioner, Rodrik argues that economics can be a powerful tool that improves the world—but only when economists abandon universal theories and focus on getting the context right. Economics Rules argues that the discipline's much-derided mathematical models are its true strength. Models are the tools that make economics a science. Too often, however, economists mistake a model for the model that applies everywhere and at all times. In six chapters that trace his discipline from Adam Smith to present-day work on globalization, Rodrik shows how diverse situations call for different models. Each model tells a partial story about how the world works. These stories offer wide-ranging, and sometimes contradictory, lessons—just as children’s fables offer diverse morals. Whether the question concerns the rise of global inequality, the consequences of free trade, or the value of deficit spending, Rodrik explains how using the right models can deliver valuable new insights about social reality and public policy. Beyond the science, economics requires the craft to apply suitable models to the context. The 2008 collapse of Lehman Brothers challenged many economists' deepest assumptions about free markets. Rodrik reveals that economists' model toolkit is much richer than these free-market models. With pragmatic model selection, economists can develop successful antipoverty programs in Mexico, growth strategies in Africa, and intelligent remedies for domestic inequality. At once a forceful critique and defense of the discipline, Economics Rules charts a path toward a more humble but more effective science.
Author: John Dickie Publisher: PublicAffairs ISBN: 1541724674 Category : Social Science Languages : en Pages : 480
Book Description
Insiders call it the Craft. Discover the fascinating true story of one of the most influential and misunderstood secret brotherhoods in modern society. Founded in London in 1717 as a way of binding men in fellowship, Freemasonry proved so addictive that within two decades it had spread across the globe. Masonic influence became pervasive. Under George Washington, the Craft became a creed for the new American nation. Masonic networks held the British empire together. Under Napoleon, the Craft became a tool of authoritarianism and then a cover for revolutionary conspiracy. Both the Mormon Church and the Sicilian mafia owe their origins to Freemasonry. Yet the Masons were as feared as they were influential. In the eyes of the Catholic Church, Freemasonry has always been a den of devil-worshippers. For Hitler, Mussolini and Franco, the Lodges spread the diseases of pacifism, socialism and Jewish influence, so had to be crushed. Freemasonry's story yokes together Winston Churchill and Walt Disney; Wolfgang Mozart and Shaquille O'Neal; Benjamin Franklin and Buzz Aldrin; Rudyard Kipling and 'Buffalo Bill' Cody; Duke Ellington and the Duke of Wellington. John Dickie's The Craft is an enthralling exploration of a the world's most famous and misunderstood secret brotherhood, a movement that not only helped to forge modern society, but has substantial contemporary influence, with 400,000 members in Britain, over a million in the USA, and around six million across the world.
Author: Stefano Castriota Publisher: MIT Press ISBN: 0262361035 Category : Business & Economics Languages : en Pages : 321
Book Description
A comprehensive and interdisciplinary approach to the economics of the production, distribution, and consumption of wine. Wine economics is a growing subfield that examines the economics of the production, distribution, and consumption of wine. In this book, Stefano Castriota takes a comprehensive and interdisciplinary approach to the study of wine economics, drawing on literature from industrial organization, welfare economics, economic policy, political economy, management, finance, health economics, law, and criminology.
Author: Edward E. Leamer
Author: Edward E. Leamer
Author: Michael S. Weisbach
Author: Anna Mignosa
Author: S. Luckman
Author: Clopper Almon
Author: Richard E. Ocejo
Author: Dani Rodrik
Author: John Dickie
Author: Stefano Castriota
Author: Clopper Almon