The craft of economics: lessons from the Heckscher-Ohlin framework
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Cambridge, Mass.
MIT Press
c2012
|
| Series: | Ohlin lectures
|
| Subjects: | |
| Online Access: | Volltext |
| Item Description: | Includes bibliographical references and index Introduction -- The Heckscher-Ohlin framework as economic fiction -- The econometric journalism of the HO framework In this spirited and provocative book, Edward Leamer turns an examination of the Heckscher--Ohlin framework for global competition into an opportunity to consider the craft of economics: what economists do, what they should do, and what they shouldn't do. Claiming "a lifetime relationship with Heckscher--Ohlin," Leamer argues that Bertil Ohlin's original idea offered something useful though vague and not necessarily valid; the economists who later translated his ideas into mathematical theorems offered something precise and valid but not necessarily useful. He argues further that the best economists keep formal and informal thinking in balance. An Ohlinesque mostly prose style can let in faulty thinking and fuzzy communication; a mostly math style allows misplaced emphasis and opaque communication. Leamer writes that today's model- and math-driven economics needs more prose and less math. Leamer shows that the Heckscher--Ohlin framework is still useful, and that there is still much work to be done with it. But he issues a caveat about economists: "What we do is not science, it's fiction and journalism." Economic theory, he writes, is fiction (stories, loosely connected to the facts); data analysis is journalism (facts, loosely connected to the stories). Rather than titling the two sections of his book Theory and Evidence, he calls them Economic Fiction and Econometric Journalism, explaining, "If you find that startling, that's good. I am trying to keep you awake." |
| Physical Description: | 1 Online-Ressource (ix, 196 p.) |
| ISBN: | 9780262301589 026230158X 9780262016872 0262016877 |
Staff View
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Record in the Search Index
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| indexdate | 2024-07-10T07:13:52Z |
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| isbn | 9780262301589 026230158X 9780262016872 0262016877 |
| language | English |
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| spelling | Leamer, Edward E. Verfasser aut The craft of economics lessons from the Heckscher-Ohlin framework Edward E. Leamer Cambridge, Mass. MIT Press c2012 1 Online-Ressource (ix, 196 p.) txt rdacontent c rdamedia cr rdacarrier Ohlin lectures Includes bibliographical references and index Introduction -- The Heckscher-Ohlin framework as economic fiction -- The econometric journalism of the HO framework In this spirited and provocative book, Edward Leamer turns an examination of the Heckscher--Ohlin framework for global competition into an opportunity to consider the craft of economics: what economists do, what they should do, and what they shouldn't do. Claiming "a lifetime relationship with Heckscher--Ohlin," Leamer argues that Bertil Ohlin's original idea offered something useful though vague and not necessarily valid; the economists who later translated his ideas into mathematical theorems offered something precise and valid but not necessarily useful. He argues further that the best economists keep formal and informal thinking in balance. An Ohlinesque mostly prose style can let in faulty thinking and fuzzy communication; a mostly math style allows misplaced emphasis and opaque communication. Leamer writes that today's model- and math-driven economics needs more prose and less math. Leamer shows that the Heckscher--Ohlin framework is still useful, and that there is still much work to be done with it. But he issues a caveat about economists: "What we do is not science, it's fiction and journalism." Economic theory, he writes, is fiction (stories, loosely connected to the facts); data analysis is journalism (facts, loosely connected to the stories). Rather than titling the two sections of his book Theory and Evidence, he calls them Economic Fiction and Econometric Journalism, explaining, "If you find that startling, that's good. I am trying to keep you awake." BUSINESS & ECONOMICS / Exports & Imports bisacsh BUSINESS & ECONOMICS / International / General bisacsh BUSINESS & ECONOMICS / International / Marketing bisacsh POLITICAL SCIENCE / International Relations / Trade & Tariffs bisacsh Economics fast Heckscher-Ohlin principle fast International trade / Econometric models fast International handel International konkurrenceevne BUSINESS & ECONOMICS / Econometrics bisacsh Wirtschaft Ökonometrisches Modell Heckscher-Ohlin principle International trade Econometric models Economics Faktorproportionentheorem (DE-588)4131855-9 gnd rswk-swf Ökonometrisches Modell (DE-588)4043212-9 gnd rswk-swf Außenhandel (DE-588)4003832-4 gnd rswk-swf Faktorproportionentheorem (DE-588)4131855-9 s Außenhandel (DE-588)4003832-4 s Ökonometrisches Modell (DE-588)4043212-9 s 1\p DE-604 http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=430305 Aggregator Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Leamer, Edward E. The craft of economics lessons from the Heckscher-Ohlin framework BUSINESS & ECONOMICS / Exports & Imports bisacsh BUSINESS & ECONOMICS / International / General bisacsh BUSINESS & ECONOMICS / International / Marketing bisacsh POLITICAL SCIENCE / International Relations / Trade & Tariffs bisacsh Economics fast Heckscher-Ohlin principle fast International trade / Econometric models fast International handel International konkurrenceevne BUSINESS & ECONOMICS / Econometrics bisacsh Wirtschaft Ökonometrisches Modell Heckscher-Ohlin principle International trade Econometric models Economics Faktorproportionentheorem (DE-588)4131855-9 gnd Ökonometrisches Modell (DE-588)4043212-9 gnd Außenhandel (DE-588)4003832-4 gnd |
| subject_GND | (DE-588)4131855-9 (DE-588)4043212-9 (DE-588)4003832-4 |
| title | The craft of economics lessons from the Heckscher-Ohlin framework |
| title_auth | The craft of economics lessons from the Heckscher-Ohlin framework |
| title_exact_search | The craft of economics lessons from the Heckscher-Ohlin framework |
| title_full | The craft of economics lessons from the Heckscher-Ohlin framework Edward E. Leamer |
| title_fullStr | The craft of economics lessons from the Heckscher-Ohlin framework Edward E. Leamer |
| title_full_unstemmed | The craft of economics lessons from the Heckscher-Ohlin framework Edward E. Leamer |
| title_short | The craft of economics |
| title_sort | the craft of economics lessons from the heckscher ohlin framework |
| title_sub | lessons from the Heckscher-Ohlin framework |
| topic | BUSINESS & ECONOMICS / Exports & Imports bisacsh BUSINESS & ECONOMICS / International / General bisacsh BUSINESS & ECONOMICS / International / Marketing bisacsh POLITICAL SCIENCE / International Relations / Trade & Tariffs bisacsh Economics fast Heckscher-Ohlin principle fast International trade / Econometric models fast International handel International konkurrenceevne BUSINESS & ECONOMICS / Econometrics bisacsh Wirtschaft Ökonometrisches Modell Heckscher-Ohlin principle International trade Econometric models Economics Faktorproportionentheorem (DE-588)4131855-9 gnd Ökonometrisches Modell (DE-588)4043212-9 gnd Außenhandel (DE-588)4003832-4 gnd |
| topic_facet | BUSINESS & ECONOMICS / Exports & Imports BUSINESS & ECONOMICS / International / General BUSINESS & ECONOMICS / International / Marketing POLITICAL SCIENCE / International Relations / Trade & Tariffs Economics Heckscher-Ohlin principle International trade / Econometric models International handel International konkurrenceevne BUSINESS & ECONOMICS / Econometrics Wirtschaft Ökonometrisches Modell International trade Econometric models Faktorproportionentheorem Außenhandel |
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