Searching where the Light Is: Connecting Theory and Policy in Economics

David Colander

Middlebury College Working Paper Series from Middlebury College, Department of Economics

Abstract: In this paper I discuss economist’s tendency to do abstract theory, and suggest an alternative way of relating theory and policy that I provides a much more positive spin on mainstream economists’ tendency toward abstract theorizing than that given it by most heterodox economists. The gist of the argument is that we should think of economic theory not as a precise map, but as a general pattern generator, which is useful to keep in the back of our minds and we approach policy problems.

Pages: 12 pages
Date: 2005-12
New Economics Papers: this item is included in nep-hpe
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