Real-world_economics

Real-world economics

Real-world economics

Heterodox economic field

Real-world economics is a school of economics that uses an inductive method to understand economic processes. It approaches economics without making a priori assumptions about how ideal markets work, in contrast to what Nobel Prize-winning economist, Ronald Coase, referred to as "blackboard economics" and its deductive method.[1]

See also

References

  1. [1]
    Coase, R. H. (1987). The Firm, the Market, and the Law. University of Chicago Press. p. 19.


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