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Paul Krugman argues that the unwillingness of mainstream economists to think about what they could not formalize led them to ignore ideas that turn out, in retrospect, to have been very good ones. Krugman examines the course of economic geograph and development theory to shed light on the nature of economic inquiry.
For mainstream economics was, by the late 1950s, becoming increasingly hostile to the kinds of ideas involved in high development theory. Above all, economics was going through an extended period in which increasing returns to scale, so central to that theory, tended to disappear from discourse.
Paul Krugman has called "high development theory." It examines the development economics, focusing on the seminal contributions of Europeans emigrated to the UK and the United States in the 1930s. That body of became very influential in the 1950s and 1960s. It was virtually pushed economic theory and research by the new trends in economic analysis.
Articles 1–20. Professor of Economics and International Affairs, Princeton - Cited by 285,058.
Paul Krugman. Princeton University, Woodrow Wilson School, Princeton, NJ 08544-1013, USA. Thirty years have passed since a small group of theorists began applying con-cepts and tools from industrial organization to the analysis of international trade.
Paul Krugman is Professor of Economics and International Affairs at Princeton University and a New York Times columnist. He was awarded the Nobel Prize for Economics in 2008.
21 de ago. de 1997 · Why do certain ideas gain currency in economics while others fall by the wayside? Paul Krugman argues that the unwillingness of mainstream economists to thin...
