Insitutions were seen as hard to model and talking of power struggles between social groups was politically associated with marxism (that was against standard economics and reciprocally). AJR managed to study institutions and power struggles using standard economic tools and to make these questions fine to study within the mainstream of the profession. Two significant achievements.
Insitutions were seen as hard to model and talking of power struggles between social groups was politically associated with marxism (that was against standard economics and reciprocally). AJR managed to study institutions and power struggles using standard economic tools and to make these questions fine to study within the mainstream of the profession. Two significant achievements.
I’ve recently gotten into the academic economic space so I’m not well versed. Are areas, like externalities, that are hard to measure and model under represented in economic research? Compared to how important they are to our economy and environment.
Insitutions were seen as hard to model and talking of power struggles between social groups was politically associated with marxism (that was against standard economics and reciprocally). AJR managed to study institutions and power struggles using standard economic tools and to make these questions fine to study within the mainstream of the profession. Two significant achievements.
I’ve recently gotten into the academic economic space so I’m not well versed. Are areas, like externalities, that are hard to measure and model under represented in economic research? Compared to how important they are to our economy and environment.