Quote:
Originally Posted by Dannyalcatraz  Re Chicago School:
Read the article, and you'll find this quote: "The University of Chicago department, widely considered one of the world’s foremost economics departments, has fielded more Nobel Prize winners and John Bates Clark medalists in economics than any other university."
They're neoclassical- meaning generally they favor a hands off approach to economic policy. IOW, not truly politicized. That kind of theoretical approach would also not impact the empirical sales data that pops up in the majority of RW studies. |
Nobel prizes in economics are more political (read propaganda) than any other prize of the scientific fields. The awards have less to do with the development of universally practical and applied endeavours and sometimes a lot about theoric structures that are totaly irrelevant with the real effects of economy. This is because while nowadays economy is the driving and guiding force behind scientific development, it is not a science by itself (even if it is proclaimed to be) because in economy you do not have a rigorous goal but rather a policy of adjustment dictated by ecologic AND SOCIAL dynamics.
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