Download or read book Uneconomic Economics and the Crisis of the Model World written by M. Watson and published by Springer. This book was released on 2014-01-17 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: What has gone wrong with economics? Economists now routinely devise highly sophisticated abstract models that score top marks for theoretical rigour but are clearly divorced from observable activities in the current economy. This creates an 'uneconomic economics', where models explain relationships in blackboard rather than real-life markets.