@Pdf ⚝ The Soulful Science: What Economists Really Do and Why It Matters ë eBook or E-pub free

Coyle provides an extensive overview of the changes in economic theory, data analysis and policy implications in this book The book provides a lot of well documented analysis of these changes, but at some points falls short of providing enough explanation One might consider finishing their undergraduate degree or maybe even a masters in economics before picking up this book. @Pdf ç The Soulful Science: What Economists Really Do and Why It Matters à For many, Thomas Carlyle s put down of economics as the dismal science rings true especially in the aftermath of the crash ofBut Diane Coyle argues that economics today is soulful than dismal, a practical and human science than ever before The Soulful Science describes the remarkable creative renaissance in economics, how economic thinking is being applied to the paradoxes of everyday life This revised edition incorporates the latest developments in the field, including the rise of behavioral finance, the failure of carbon trading, and the growing trend of government bailouts She also discusses such major debates as the relationship between economic statistics and presidential elections, the boundary between private choice and public action, and who is to blame for today s banking crisis This book is written as if the writer is giving a senior tutorial in recent economic trends It s not that her observations aren t interesting, but it s as if she s having a long Sunday brunch conversation with her lecture notes in front of her There isn t enough cohesion here for a book She assumes certain beliefs that she shouldn t, by making sweeping statements and moving on without explanation This would work in a tutorial format, since very often we allow the teacher to continue the lect This book is written as if the writer is giving a senior tutorial in recent economic trends It s not that her observations aren t interesting, but it s as if she s having a long Sunday brunch conversation with her lecture notes in front of her There isn t enough cohesion here for a book She assumes certain beliefs that she shouldn t, by making sweeping statements and moving on without explanation This would work in a tutorial format, since very often we allow the teacher to continue the lecture without challenging them on every point, simply because they are the expert But it doesn t work in a written format.It s a hopeful book, in that we need a lotmainstream writing out there to challenge simplistic economics She does a good job in illustrating that there are many smart economists out there doing complex work, and the field does not only consist of the pap of partisan politics Read as a series of magazine articles over a period of time, her information would come across better than it does read in this book format start back at Chapter 2 page 45.Econometrics defined the application of statistical techniques to large sets of data on individual behavior copyright 2007, so may not be worth finishing Coyle, Diane 2007 The Soulful Science What Economists Really Do And Why it Matters Princeton Princeton University Press 2007 ISBN 9780691125138 Pagine 279 18.45 Come ho raccontato recensendo il suo libro sul GDP, di Diane Coyle avevo comprato e letto 5 o 6 anni fa un altro libro, A Soulful Science Ero stato attratto soprattutto dal titolo, che contraddice spudoratamente una definizione dell economia come the dismal science che ho sempre molto amato citare la citazione di Thomas Coyle, Diane 2007 The Soulful Science What Economists Really Do And Why it Matters Princeton Princeton University Press 2007 ISBN 9780691125138 Pagine 279 18.45 Come ho raccontato recensendo il suo libro sul GDP, di Diane Coyle avevo comprato e letto 5 o 6 anni fa un altro libro, A Soulful Science Ero stato attratto soprattutto dal titolo, che contraddice spudoratamente una definizione dell economia come the dismal science che ho sempre molto amato citare la citazione di Thomas Carlyle, lo storico di epoca vittoriana.Secondo la vulgata, che mi avevano raccontato all universit come, credo, la raccontino a tutti quelli che si avvicinano all economia , Carlyle avrebbe coniato la famosa frase commentando le idee di Thomas Robert Malthus, che aveva predetto An Essay on the Principle of Population che la conseguenza inevitabile di una crescita esponenziale della popolazione, a fronte di una crescita lineare delle risorse alimentari, avrebbe portato alla carestia e alla morte per fame della popolazione in eccesso Insomma, Malthus stato il padre nobile dei profeti di sventura dei limiti dello sviluppo e dell insostenibilit della crescita economica E automaticamente, criticandolo con il famoso meme della dismal science, Carlyle viene arruolato nell esercito dei buoni, dei critici dell economia in ragione di valori e princip superiori.Peccato che le cose non siano andate cos , come ricostruisce Derek Thompson in un bell articolo comparso su The Atlantic del 17 dicembre 2013 Why Economics Is Really Called the Dismal Science In effetti, Carlyle si s riferito all economia come a the dismal science, ma in un contesto diverso, quello di un saggio sulla schiavit nelle Indie occidentali Infatti, nel suo saggio Occasional Discourse on the Negro Question Carlyle tutt altro che un progressista sosteneva la reintroduzione della schiavit per regolare il mercato del lavoro Nel dibattito in corso all epoca, gli economisti sostenevano il laissez faire e il libero operare della domanda e dell offerta di lavoro Carlyle accomuna filantropi ed economisti ed contro l emancipazione e la libert degli schiavi Truly, philanthropy is wonderful and the social science not a gay science, but a rueful which finds the secret of this universe in supply and demand, and reduces the duty of human governors to that of letting men alone, is also wonderful Not a gay science, I should say, like some we have heard of no, a dreary, desolate and, indeed, quite abject and distressing one what we might call, by way of eminence, the dismal science Occasional Discourse on the Negro Question Ecco ristabilita la verit storica di cui presumibilmente, come di tutte le smentite, nessuno prender nota Carlyle era un reazionario bigotto, convinto dell inferiorit dei negri e dei poveri gli economisti erano allineati con i filantropi per la fine della schiavit , la libert e il progresso Riporto la conclusione dell articolo di Derek Thompson Today, when we hear the term the dismal science, it s typically in reference to economics most depressing outcomes e.g on globalization killing manufacturing jobs well, that s why they call it the dismal science, etc In other words, we ve tended to align ourselves with Carlyle to acknowledge that an inescapable element of economics is human misery.But the right etymology turns that interpretation on its head In fact, it aligns economics with morality, and against racism, rather than with misery, and against happiness Carlyle couldn t find a justification for slavery in political economic thought, and he considered this fact to be dismal Students of economics should be proud Their science was then as it can be, today a force for ajust and, crucially, less dismal world.Diane Coyle, definendo l economia la soulful science in opposizione alla dismal science, ignora la verit ora ristabilita Scrive, infatti, a pagina 39 It An Essay on the Principle of Population also earned economics the description the dismal science from historian Thomas Carlyle Sono passati 7 anni da quando ho letto questo libro e non posso dire di averne conservato un impressione vivida Ma per fortuna avevo preso degli appunti e sono quindi in grado di segnalarvi tre passi in materia di economia dell informazione, di reti e di istituzioni, rispettivamente INFORMATION Looking at the availability of information, and how it shapes individual decisions, goes to the heart of whether and when markets deliver individually and socially desirable outcomes People often have access to different information or are uncertain about its reliability described as information asymmetries so their decisions will be formed accordingly Their behavior might be intended to share information, which Is known as signaling Or the asymmetry will affect their behavior in ways which lead to a less desirable outcome, giving rise to adverse selection Asymmetric information likewise might give people incentives to behave in undesirable ways from the perspective of the wider market or society, causing the problem of moral hazard.In addition, information is in many ways a public good Its use by one person doesn t use it up at all it is nonrival or infinitely expansible , and if known by one it readily spills over to others it is to a large extent nonappropriable These characteristics were most elegantly and famously expressed by Thomas Jefferson He who receives an idea from me receives it without lessening me , as he who lights his candle at mine receives light without darkening me Recall the importance of knowledge spillovers in growth theory knowledge is the word used for information in that particular context, trying to understand innovation Even if it is possible to prevent others from acquiring information, it is likely to be socially inefficient to keep it private Further, the quality of a piece of information can t be assessed before it s acquired, so trust and reputation are likely to matter.These considerations all suggest that the characteristics of information mean that markets don t work as well as neoclassical theory would have us believe On the other hand, it s very clear that markets are good at aggregating information p 149 NETWORKSWe saw some of this in the previous chapter the tools of networks allow us to model economic contagions or cascades, such as stock market booms, bank crises, or recessions, as if we were ants marching in step toward a new food source Here I want to focus on just one aspect of social networks the part which concerns how we run our societies and economies as a whole Knowing that human networks appear to follow some natural laws, what does this tell us about the overall structure of society How do the institutions by which we run our affairs take shape Why do societies and economies then end up being so different from each other If we all form interpersonal networks according to the laws of complex nonrandom systems, why are some countries rich and some poor What difference does understanding that there is a natural, presumably biological or evolutionary, basis of social networks make to economic policy prescriptions It seems, contrary to Mrs Thatcher s notorious assertion, that individuals are the same everywhere, and the differences are all down to society p 214 INSTITUTIONS Partha Dasgupta writes When they have needed to, and have been able to, people have developed what are often crisscrossing institutions, such as extended family and kinship networks civic, commercial and religious associations charities production units and various layers of what is known as government Each serves functions the others are not so good at serving Their elucidation, in particular our increased understanding of their strengths and weaknesses, has been the most compelling achievement of economics over the past 25 years or so Dasgupta 1998 Networks, norms, culture, social capital, institutions, markets, governments, all words for mechanisms which turn individual choices into collective actions One of the aims of the continuing research in this area must be further evidence about which form of collective arrangement delivers desirable outcomes, for there isn t yet a comprehensive taxonomy Each can fail in certain circumstances, each has its strengths and weaknesses In the case of markets, anonymity can be a benefit in some circumstances and a burden in others The close traditional ties of the village can be either supporting or stifling Social capital can be positive or negative Trust reduces transactions costs, making itlikely that markets will function efficiently, but the wider the extent of markets, the harder it ought become to sustain trust No framework for collective action stands still, as today s institutions shape tomorrow s economic performance, which in turn feeds back to the evolution of institutions There remains an enormous research task in trying to understand these feedbacks, in one of the most exhilarating areas of economics today p 229 A good overview of all of the fields of economics, the key players in the history and development of economics, and largely fair in discussing the strengths and weaknesses in what is essentially a social science which seeks the rigor of the hard sciences, and which is expanding into other, less financial realms, through behavioral economics a discipline which must look to psychology and sociology for data Personally, I think economics should stick to discussing exchange rates, tariffs, prot A good overview of all of the fields of economics, the key players in the history and development of economics, and largely fair in discussing the strengths and weaknesses in what is essentially a social science which seeks the rigor of the hard sciences, and which is expanding into other, less financial realms, through behavioral economics a discipline which must look to psychology and sociology for data Personally, I think economics should stick to discussing exchange rates, tariffs, protectionism, free trade, comparative advantage, interest rates, monetary supply, GDP, and all of the other aspects of the financial world, and not seek to expand into the micro realm of human decisions making Additionally, economists brag that their conclusions are robust and have great predictive power, but also admit that the assumptions they are based on, such as the utility maximizing rational actor, and market participants armed with equal knowledge, are not valid So how can their conclusions have any weight, when they are based on faulty assumptions They answer this question by saying that the conclusions are rich enough that their faulty premises can be forgiven I have long felt resistant to the haughty air of economists who believe in the superiority and infallibility of their discipline, and will continue to assail the underpinnings of their craft, either using the jargon and tools of their own field, or through the subtle deconstructive tools of critical theory and modern analytical philosophy A book I would like to re read