Open Access. Powered by Scholars. Published by Universities.®
- Keyword
Articles 1 - 2 of 2
Full-Text Articles in Economic Theory
Adaptive Policymaking: Evolving And Applying Emergent Solutions For U.S. Communications Policy, Richard S. Whitt
Adaptive Policymaking: Evolving And Applying Emergent Solutions For U.S. Communications Policy, Richard S. Whitt
Federal Communications Law Journal
This Article presents some specific ways that U.S. policymakers should use teachings from the latest thinking in economics to create a conceptual framework in order to grapple with current controversies in communications law and regulation. First, it provides a brief overview of Emergence Economics, with an emphasis on the "rough formula" of emergence and the unique role of technological change in creating and furthering innovation and economic growth. Second, this paper explicates the general concept of "Adaptive Policymaking" by governments and includes some proposed guiding principles, an outline of the public policy design space, and an adaptive toolkit to be …
The Strength Of The Veblenian Critique Of Neoclassical Economics, Svetoslav I. Semov
The Strength Of The Veblenian Critique Of Neoclassical Economics, Svetoslav I. Semov
Gettysburg Economic Review
More than one hundred years ago, Thorstein Veblen wrote a powerful critique of neoclassical economics that castigated the discipline for turning the individual into a “lightning calculator of pleasures and pains, who oscillates like a homogeneous globule”, or equivalently, for the individual’s static maximization of utility based on exogenous preferences. His critique is relevant even today, since there are economists who still continue to criticize the assumptions of homo economicus and exogenous preferences, and insist on introducing more realism to economic theory. Furthermore, recent developments in game theory and experimental economics, which stand at the cutting-edge of economics today, are …