Marshall's Tendencies: What Can Economists Know?

Paperback | January 25, 2002

byJohn Sutton

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The world of economics is a complicated and messy place. Yet modern economic analysis rests on an attempt to represent the world by means of simple mathematical models. To what extent is this possible? How can such a program cope with the fact that economic outcomes are often driven by factors that are notoriously difficult to quantify? Can such mathematical modeling lead us to theories that work? In these lectures, John Sutton explores what he calls the "standard paradigm" that lies at the heart of economic model building, whose roots go back a century to the work of Alfred Marshall. In probing the strengths and limitations of this paradigm, he looks at some of the remarkable successes, as well as deep disappointments, that have flowed from it.For sales in Belgium, the Netherlands, and Luxembourg, contact Leuven University Press at fax (+32)16/32.53.52 or universitaire.pers@upers.kuleuven.ac.be

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The world of economics is a complicated and messy place. Yet modern economic analysis rests on an attempt to represent the world by means of simple mathematical models. To what extent is this possible? How can such a program cope with the fact that economic outcomes are often driven by factors that are notoriously difficult to quantify...

John Sutton is Sir John Hicks Professor of Economics at the LondonSchool of Economics.

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Format:PaperbackDimensions:116 pages, 8 × 5.38 × 0.5 inPublished:January 25, 2002Publisher:The MIT PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0262692791

ISBN - 13:9780262692793

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"Sutton gives an erudite and provocative account that challenges economists to rethink the roles of theory and evidence in our discipline. Serious students of economics should pay careful attention to Sutton's ideas."