How does mainstream economics analyze the economics of public choice?

Key Takeaways · Mainstream economics refers to the orthodox or neoclassical tradition of economics, in which markets are moved by an invisible hand and all ... Nov 15, 2023 ... The near-consensus among mainstream economists in recent years was that inflation would persist – and even accelerate – and that this justified substantial ... Mar 31, 2023 ... Mainstream economists usually content themselves with stating something like “economics is what economists do” and “economists are those who ... Mainstream economic theory is based on the rationality assumption: that people act as best they can to promote their interests. In contrast, behavioural ... Aug 8, 2023 ... Economic models have ignored tipping points, rainfall changes and indoor work, leading them to under-estimate climate change's economic damage. We propose a synthesis according to which people indeed act by rules, which usually work well, but may work poorly in exceptional or contrived scenarios. Nov 1, 2014 ... The core capitalist economies are experiencing secular stagnation, characterized by slow growth, rising unemployment and underemployment, and idle productive ... Sep 26, 2019 ... Ranking mainstream economics journals: A note. Language: English. Keywords: Rankings; Economics Journals; Data Envelopment Analysis. Subjects ... Book overview. The dominant view in economics is that money and government should play only a minor role in economic life. Money, it is claimed, is more than a ... ABSTRACT. This article argues that economics is currently undergoing a fundamental shift in its method, away from neoclassical economics and into something ...