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This work investigates the fundamental limitations of neoclassical economic models in predicting market outcomes due to inherent systemic indeterminacy. Yanis Varoufakis, a prominent economist and former government official, utilizes his extensive background in game theory and political economy to challenge the assumption that markets naturally gravitate toward equilibrium. The text argues that economic systems are characterized by reflexive interactions that render precise mathematical forecasting impossible, proposing instead a framework that accounts for social and political variables.
What You Will Find
Experts recognize this text as a critical contribution to heterodox economic thought, often citing it for its rigorous challenge to mainstream modeling assumptions. Readers frequently note the high level of academic density, making it a challenging but rewarding resource for students and professionals interested in the philosophy of economics.
Page Count:
0
Publication Date:
2014-01-01
Publisher:
Taylor & Francis Group
ISBN-10:
020379656X
ISBN-13:
9780203796566
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