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Back to the Future – the Marginal Utility of History in Economics

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  • Eivind Merok

    ()
    (Researcher at the Departement of Archeology, Conservation and History)

  • Nils August Andresen

    ()
    (Researcher at Econ Pöyry)

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    Abstract

    Economics and economic history share many fundamental research problems and have a rich shared intellectual history. Still, works by economic historians are rarely read or referenced in economics. In this essay we attempt to identify the cost of this negligence. In particular, we argue that a restrictive understanding of the economic research programme excludes available evidence and precludes analysis of complex situational constraints on economic decision-making.

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    File URL: http://www.nopecjournal.org/NOPEC_2007_a03.pdf
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    Bibliographic Info

    Article provided by Nordic Journal of Political Economy in its journal Nordic Journal of Political Economy.

    Volume (Year): 33 (2007)
    Issue (Month): ()
    Pages: 3

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    Handle: RePEc:noj:journl:v:33:y:2007:p:3

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    1. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
    2. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    3. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211.
    4. Grubel, Herbert G & Boland, Lawrence A, 1986. "On the Efficient Use of Mathematics in Economics: Some Theory, Facts and Results of an Opinion Survey," Kyklos, Wiley Blackwell, vol. 39(3), pages 419-42.
    5. James J. Heckman, 2001. "Micro Data, Heterogeneity, and the Evaluation of Public Policy: Nobel Lecture," Journal of Political Economy, University of Chicago Press, vol. 109(4), pages 673-748, August.
    6. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
    7. Helmuth Cremer & Firouz Gahvari, 1997. "Tax Competition and Tax Evasion," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 24, pages 89-104.
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