No Path to New Economics: John Komlos’s Foundations of Real-World Economics (Komlos 2019)

Gorbatenko Daniil ()

Journal des Economistes et des Etudes Humaines, 2019, vol. 25, issue 1, 4

Abstract: John Komlos’s Foundations of Real-World Economics is an ambitious book that aims at taking down the foundations of modern mainstream economics that students are taught at Econ 101 classes and replace them with a more reality-based alternative. However, Komlos’s falls way short of the stated objective. First, he fails to genuinely engage the introductory textbooks with which he supposedly argues. Komlos also appears to misunderstand the purpose of introductory-level economic models like perfect competition, as well as to entertain the idea that their rejection may lead to different conclusions from those that he seems to favor. Finally, Komlos does not cite sufficient research and evidence for his own potential building blocks for a new economics, such as the claim that the basic assumption of scarcity should be scrapped in favor of that of abundance.

Keywords: book review; John Komlos; Foundations of Real-World Economics; economic models; economics (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/jeeh-2019-0010 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:jeehcn:v:25:y:2019:i:1:p:4:n:3

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/jeeh/html

DOI: 10.1515/jeeh-2019-0010

Access Statistics for this article

Journal des Economistes et des Etudes Humaines is currently edited by Pierre Garello

More articles in Journal des Economistes et des Etudes Humaines from De Gruyter
Bibliographic data for series maintained by Peter Golla ().