Why Economic Theories and Policies Fail? Unnoticed Variables and Overlooked Economics

@article{Olkhov2022WhyET,
  title={Why Economic Theories and Policies Fail? Unnoticed Variables and Overlooked Economics},
  author={Victor Olkhov},
  journal={SSRN Electronic Journal},
  year={2022}
}
  • Victor Olkhov
  • Published 14 August 2022
  • Economics
  • SSRN Electronic Journal
Accuracy of economic theories and efficiency of economic policy strictly depend on the choice of the economic variables and processes mostly liable for description of economic reality. That states the general problem of assessment of any possible economic variables and processes chargeable for economic evolution. We show that economic variables and processes described by current economic theories constitute only a negligible fraction of factors responsible for economic dynamics. We consider… 

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