00:00    |    
Initial credits
00:06    |    
01:53    |    
Observations of economic life
02:49    |    
Understanding economic schools of thought
Simple situation
Complex situation
Disorder situation
Order situation
05:39    |    
The Austrian School of Economics
Experimental economics
08:30    |    
Invisible hand explanation
Quote Francis M. Bator
11:47    |    
Implications of the use and misuse of equilibrium construct in economics
Equilibrium theory of the business cycle
Imaginary construction idea
Market failure
17:30    |    
The nature of economic argument
20:54    |    
The years of high theory
General competitive equilibrium
Welfare economics
24:14    |    
The relevant debate of economics
Paul Krugman versus the New Classicals
27:53    |    
The absence of Friedrich A. Hayek
Institutional analysis
31:23    |    
Maynard Keynes' postulations
32:12    |    
Modern economics
Tools of calibration to test economic theories
Economics of governance
37:18    |    
The wrong economic vision
Confusing formalism with rigor
Economics without institutions
The unholy alliance
37:55    |    
Question and answer period
What about the argument that any theory has to be confirmed in practice and verified with a model?
How is the relationship in the schools of thought between Austrian and New Classical economics?
What do you think about the role of behavioral economics in modern public choice?
What did you mean by pointing out entrepreneurial discovery in the market process?
01:08:18    |    
Final credits




Where Did Economics Go Wrong? Modern Economics as a Flight from Reality

07 de junio de 2011   | Vistas: 56 |   Adam Smith Austrian School Of Economics Business Cycle Classical Liberalism

Peter Boettke lectures on the basis of economics, the rational choice and the invisible hand explanation, and he presents a matrix for understanding economic schools of thought. He points out Friedrich Hayek's theory to understand the behavior of free markets, tested with experimental economics, emphasizing that the intelligence of the experiment lays in its institutional framing. Furthermore, he talks about the use and misuse of the equilibrium construct. Boettke analyses where economics went wrong and mentions the relevant debate among the ideas of highly acknowledged economists.


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín