This article is a response to the recent “Worrying Trends in Econophysics” critique written by four respected theoretical economists [1]. Two of the four have written books and papers that provide very useful critical analyses of the shortcomings of the standard textbook economic model, neo-classical economic theory [2,3] and have even endorsed my book [4]. Largely, their new paper reflects criticism that I have long made [4,5,6,7,] and that our group as a whole has more recently made [8]. But I differ with the authors on some of their criticism, and partly with their proposed remedy.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
2129.
Length: Date of creation: 29 May 2006 Date of revision: Publication status: Published in Physica A 2.371(2006): pp. 601-609 Handle: RePEc:pra:mprapa:2129
Find related papers by JEL classification: D8 - Microeconomics - - Information, Knowledge, and Uncertainty C0 - Mathematical and Quantitative Methods - - General A2 - General Economics and Teaching - - Economics Education and Teaching of Economics
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