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| Author: | Krugman, P. |
| Title: | Two cheers for formalism |
| Journal: | Economic Journal
1998 : NOV, VOL. 108:451, p. 1829-1836 |
| Index terms: | Economic theory Economists |
| Freeterms: | Criticism |
| Language: | eng |
| Abstract: | Attacks on the excessive formalism of economics - on its reliance on abstract models, on its use of too much mathematics - have been a constant for the past 150 years. Much of the criticism of formalism in economics is an attack on a straw man: the reality of what good economists do is much less formalistic than the popular image. Bad economists, of course, do bad economics; but one should not confuse a complaint about quality with a complaint about methodology. |
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