What are the implications of tipping points and path dependence in economic systems?

Mainstream economic theory is based on the rationality assumption: thatpeople act as best they can to promote their interests. In contrast,behavioural ... Jan 20, 2025 ... AUSTIN – In a remarkable catalogue of horrors for The New York Times, journalist Ben Casselman details the “central tenets” of mainstream ... Found an error or omission? Volunteers. Opportunities to help RePEc · Get papers listed. Have your research listed on RePEc · Open a RePEc archive. Have your ... Jul 8, 2014 ... 'Economics of the 1%: How Mainstream Economics Serves the Rich, Obscures Reality and Distorts Policy' reviewed by Bill Jefferies Apr 2, 2019 ... “In a Malthusian economy where intensive growth is not possible, strong property rights simply reinforce the existing distribution of resources. Nov 22, 2019 ... It is a money-making economy. You can print money indefinitely, but you cannot turn it into value under capitalism without the exploitation of ... Oct 28, 2013 ... Mainstream economics is in denial: the world has changed ... Rebellions aren't meant to kick off in lecture theatres – but I saw one last Thursday ... Aug 8, 2023 ... Economic models have ignored tipping points, rainfall changes and indoor work, leading them to under-estimate climate change's economic damage. The mainstream economic approach is doggedly nonjudgmental about people's preferences: what the individual wants is presumed to be good for that individual. Sep 14, 2016 ... In my view, mainstream economists overlook or forget about the role inequality plays, especially in macroeconomic events, for two major reasons.