Development, Geography, and Economic Theory PDF Download Ebook. Paul Krugman argues that the unwillingness of mainstream economists to think about what they might not formalize led them to ignore concepts that end up, on reflection, to have been superb ones.
Krugman examines the course of economic geography and improvement theory to shed light on the character of financial inquiry. He traces how improvement concept lost its huge initial affect and nearly disappeared from financial discourse after it grew to become clear that most of the concept's most important insights could not be clearly modeled.
Financial geography appears to have fared even worse, as economists shied away from grappling with questions about space -- reminiscent of the dimensions, location, or even existence of cities -- as a result of the "terrain was seen as unsuitable for the tools at hand."Krugman's book, nonetheless, is just not a name to abandon financial modeling.
Writer concludes with a reminder of why insisting on using models may be right, even when these sometimes lead economists to overlook good ideas. He additionally recaps the discussion of growth and financial geography with a commentary on recent developments in those fields and areas where further inquiry seems most promising.
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