Economic Ideas You Should Forget

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Frey, Bruno S., and David Iselin. 2017. Economic Ideas You Should Forget. Springer.

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Description

By discussing problematic theoretical assumptions and drawing on the latest empirical research, 71 authors question specific hypotheses and reject major economic ideas from the “Coase Theorem” to “Say’s Law” and “Bayesianism.”

Chapters

Sola Protestantism in Economics
Bachmann, Rüdiger
Economics Has Nothing to Do with Religion
Becker, Sascha O.
More Choice Is Always Better
Benesch, Christine
People Are Outcome Oriented
Benz, Matthias
Deriving People's Trade Policy Preferences from Macroeconomic Trade Theory
Bernauer, Thomas
Size (of Government) Doesn't Matter
Besley, Tim
Bayesianism
Binmore, Ken
The Return on Equity
Birchler, Urs
Peak Oil Theory
Blankart, Charles B.
More Choice Is Always Better
Blinder, Alan S.
(Un)Productive Labor
Bütler, Monika
Volatility Is Risk
Cauwels, Peter
Robots Will Take All Our Jobs
Cueni, Reto
Economic Growth Increases People's Well-Being
Easterlin, Richard A.
Big Data Predictions Devoid of Theory
Ehrmann, Thomas
Government Debts Are a Burden on Future Generations
Eichenberger, Reiner
Public Spending Reduces Unemployment
Feld, Lars P.
The Capital Asset Pricing Model
Fernandez, Pablo
Innovation Programs Lead to Innovation
Folkers, Gerd
Factors of Production Are Homogenous Within Categories
Foss, Nicolai J.
Individual Utility Depends Only on Absolute Consumption
Frank, Robert
The Relative Price Effect Explains Behavior
Frey, Bruno S.
The Precedence of Exchange over Production
Frost, Jetta
Inequality Reduces Growth
Fuest, Clemens
Contingent Valuation, Willingness to Pay, and Willingness to Accept
Ginsburgh, Victor
Governments Must Reduce Budget Deficits
Graff, Michael
Reach for Your Dream
Guggenbühl, Allan
The EU's Competiveness Authority
Gygi, Beat
Say's Law
Hartwig, Jochen
Boundedness of Rationality
Helbling, Jürg
Rational Expectations
Hendry, David F.
Letting Insolvent Banks Fail
Hertig, Gerard
Pleasantville Politics
Selecting Politicians According to Ability
Heyndels, Bruno
The Axioms of Revealed Preference
Kay, John
There Ain't No Such Thing as a Free Lunch
The Myth of Expansionary Consolidations
Kirchgässner, Gebhard
Government Hurts the Economy More Than It Helps
Levi, Margaret
The Motivated Armchair Approach to Preferences
Lindenberg, Siegwart
Economics Is Based on Scientific Methods
McAleer, Michael
The Death of Distance
Nijkamp, Peter
Dump the Concept of Rationality Into the Deep Ocean
Opp, Karl-Dieter
Pay for Performance Raises Performance
Osterloh, Margit
Home Ownership Is Good
Oswald, Andrew J.
Coase Theorem
Posner, Eric A.
Poverty Is Good for Development
Ravallion, Martin
Markets Are Efficient
Rochet, Jean-Charles
CEOs Are Paid for Talent
Rost, Katja
The Efficiency-Equity Tradeoff
Sachs, Jeffrey D.
Deterministic Trend of Inequality
Schaltegger, Christoph A.
Quantitative Easing
Schiltknecht, Kurt
Hosting the Olympic Games
Schmidt, Sascha L.
Abolishing Cash as Solution Against the Evil
Schneider, Friedrich
Receiving Money and Not Having to Work Raises Happiness
Schöb, Ronnie
Saints in Public Office
Schwarz, Gerhard
Helicopter Money
Sinn, Hans-Werner
Decisions Are Deterministic
Sornette, Didier
Politicians Systematically Converge to the Median Voter
Stadelmann, David
Artists Are Poor and thus Unhappy
Steiner, Lasse
Returns on Educational Investments Are Highest for Early Childhood Interventions
Stern, Elsbeth
EU Centralization
Steuernagel, Armin
The Alleged Asymmetry in Maintaining a Fixed Exchange Rate
Sturm, Jan-Egbert
Governments Should Maximize the Happiness of the Population
Stutzer, Alois
Okun's Equality-Efficiency Trade-Off
Thoma, Mark
"A Rising Tide Raises All Boats"
Throsby, David
Social Cost Analysis
Tollison, Robert D.
Natural Resources Make Rich
Ploeg, Rick
The Natural Rate of Interest Is Positive
Weizsäcker, Carl Christian
Europe's "Skill Shortage"
Voth, Joachim
Taxes Are Paid Because of Expected Punishment
Weck-Hannemann, Hannelore
Better Safe than Sorry
Weibel, Antoinette
The End of Work
Zürcher, Boris
Postscript
Frey, Bruno S. (et al.)

Links

Economic Ideas You Should Forget (publisher website) [More...]
"Shows the weaknesses of various traditional economic concepts and ideas. Rejects major economic ideas including the Coase Theorem, Say’s Law, Bounded Rationality, Bayesianism, and many more. Provides a vast overview of the economic profession and currently dominant thought."

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