Wednesday, December 23, 2009

Changing Economy => Changing Economics

In today's edition of The New York Times, columnist David Brooks offers an intriguing view of the current state of the field of economics and why it is what it is.  His key insight is that when the economy was about "making things", economics  most closely resembled physics.  But now that we exist in an information economy, the nature of economics has and needs to change.  This can provide a partial explanation for the rise in interest in behavioral and institutional economics.

It's short, but thought-provoking.  You may want to give it a look.  Please share your reactions.

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