Re: People who think that "rational economic man" is sociopathic might find this a bit humorous

[Eugene Coyle <eugenecoyle@xxxxxxx>]

Samuelson called neoclassical economics " a parable, but a good parable." (In the QJE if my memory is accurate.)  That was after he conceded defeat to Joan Robinson and the gang.

Basically we need a story to replace the story neoclassical economists tell.  Their story is accepted by policy makers and journalists, partly because it supports the right interests, partly because it has been accepted so long by so many. 

but it is a battle of stories, rather than somehow educating economists, that we should focus on. 

Gene Coyle

Michael Perelman wrote:

Didn't McClosky say as much.  He made a stir for a while & then the idea seems to
have disappeared.

On Sat, Jan 14, 2006 at 06:59:20AM -0800, Jim Devine wrote:
  

Speaking of metaphors, it would be good for neoclassical economics if
its users were to admit that their theory is nothing but a system of
metaphors.
JD
    

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu