Should Economists be Experts in Markets or in Human Nature?

Level: expert
Philip Mirowski | Netzwerk Plurale ├ľkonomik, 2015

Perspectives: Behavioral Economics, Neoclassical Economics, Institutionalist Economics
Topic: markets, mainstream critique
Format: Lecture, Duration: 01:02:21

In this lecture Mirowski claims that a good critique of and alternative to neoclassical economics should focus on microeconomics. In addition, he claims that mainstream economics is not about a specific "human nature", instead the understanding of markets (partially based on Hayek) is of special importance. As an alternative Mirowski proposes institutionalist economics that builds upon how markets work nowadays (e.g. links to computer science).