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Kahneman's impact on economics can't be understated. The subject was becoming a fairly absurd and dogmatically prescriptivist practice before Kahneman stirred i
by Shrezzing 3y ago
Kahneman's impact on economics can't be understated. The subject was becoming a fairly absurd and dogmatically prescriptivist practice before Kahneman stirred it up along with a a relatively small number of colleagues.
To a large extent, it's still dogmatic and prescriptivist, but unorthodox opinions (not just limited to behavioral economics) are more accepted & considered following Kahneman's input.
- kolbe 3y agoOut of both humility and reality, I think even Kahneman would give the bulk of the credit to Amos Tversky.
- worik 3y ago> The subject was becoming a fairly absurd and dogmatically prescriptivist practice That was when I was studying it! So much rubbish "economics is a science because it uses maths" is one favourite of mine. I did over a decade of study on economics and finance and nobody, even once, mentioned Karl Marx, arguably the most influential economist in the last two hundred years. It was very prone to fetishes. "Price mechanism" was one I recall. Every problem in society had to be shoe horned into a market so the "price mechanism" would get to work.